Airways Pension Scheme lands £4.4bn pensioner buy-in with Legal and General

clock • 2 min read

The British Airways sponsored Airways Pension Scheme (APS) has completed a £4.4bn pensioner bulk annuity buy-in with Legal & General.

The deal - the largest pensioner buy-in ever completed in the UK market - will cover around 60% of the scheme's pensioner liabilities. The transaction accounts for existing longevity reinsurance...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Over half of large DB schemes targeting buy-in or buyout

Over half of large DB schemes targeting buy-in or buyout

L&G finds nearly two-fifths of DB schemes aiming for full buyout within three years

Martin Richmond
clock 25 March 2024 • 3 min read
M&G announces third bulk annuity deal since re-entering market

M&G announces third bulk annuity deal since re-entering market

Insurer signed a £309m deal with unnamed scheme on 15 March

Jonathan Stapleton
clock 21 March 2024 • 1 min read
Morten Nilsson: Surplus extraction is a hefty prize but what's the price?

Morten Nilsson: Surplus extraction is a hefty prize but what's the price?

Brightwell CEO says trustees and sponsors must be clear on surplus flexibility rules

Morten Nilsson
clock 19 March 2024 • 4 min read
Trustpilot