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

Manufacturing sector scheme secures £11m buy-in deal with Just Group

Manufacturing sector scheme secures £11m buy-in deal with Just Group

Transaction secures the benefits of 87 members of the scheme

Holly Roach
clock 03 September 2026 • 1 min read
Samworth Brothers scheme secures £400m buy-in with Canada Life

Samworth Brothers scheme secures £400m buy-in with Canada Life

Transaction secures the benefits of over 7,000 scheme members

Holly Roach
clock 02 September 2026 • 3 min read
Clara agrees second small schemes superfund deal with £40m pension fund

Clara agrees second small schemes superfund deal with £40m pension fund

Transaction will see more than 400 members join the Clara Pension Trust

Jonathan Stapleton
clock 02 September 2026 • 2 min read
Trustpilot