Phoenix Life's £1.2bn buy-in for own scheme is biggest transaction for 2016

Stephanie Baxter
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Phoenix Life's £1.2bn buy-in for own scheme is biggest transaction for 2016

Phoenix Life has announced it completed a buy-in for its UK defined benefit (DB) scheme last December, making it the largest de-risking transaction of the year.

The insurer, which does not offer a bulk annuity proposition to the wider market, revealed the details of the £1.2bn buy-in for the PGL Pension Scheme in its 2016 annual results published on 20 March...

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