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

Welcome Break Pension Plan agrees £23m buy-in with Just Group

Welcome Break Pension Plan agrees £23m buy-in with Just Group

The transaction secures the benefits of all 348 scheme members

Holly Roach
clock 12 September 2025 • 2 min read
Utmost looks to client proposition following BPA progress this year

Utmost looks to client proposition following BPA progress this year

Insurer ‘proud’ of momentum in the year since its launch into bulk annuity market

Jonathan Stapleton
clock 10 September 2025 • 1 min read
Pension Insurance Corporation posts half year results

Pension Insurance Corporation posts half year results

Insurer completes deals worth £1.1bn with eight schemes in first six months of year

Jonathan Stapleton
clock 09 September 2025 • 1 min read
Trustpilot