How PGL's longevity swap was converted into a buy-in

Stephanie Baxter
clock • 4 min read

Phoenix Group's senior corporate pensions actuary Richard Zugic speaks to PP about how a longevity swap was transformed into a bulk annuity for the PGL Pension Scheme in the first deal of its kind.

Last month Phoenix Group revealed its insurance subsidiary Phoenix Life had successfully unwound an existing longevity swap for the PGL Pension Scheme and converted it into a £1.2bn buy-in. This...

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