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

Stephanie Baxter
clock • 2 min read

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 Mar...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Milliken Industrials scheme secures £44m buy-in with Royal London

Milliken Industrials scheme secures £44m buy-in with Royal London

Transaction secures the benefits of 500 scheme members

Holly Roach
clock 27 June 2025 • 2 min read
Baker Hughes schemes complete buy-in deals worth £900m with PIC

Baker Hughes schemes complete buy-in deals worth £900m with PIC

Three deals secure the benefits of 3,000 pensioners and dependants and nearly 4,000 deferred members

Holly Roach
clock 26 June 2025 • 2 min read
McGregor Construction secures £7m PPF+ buy-in with Just Group

McGregor Construction secures £7m PPF+ buy-in with Just Group

Transaction secures the benefits of 66 pensioners and eight deferred members

Holly Roach
clock 16 June 2025 • 3 min read
Trustpilot