Royal Philips has completed a £2.4bn buy-in with Pension Insurance Corporation (PIC) that will enable it to wind up its scheme following earlier transactions to insure almost £1bn in benefits.
The latest deal covers approximately 26,000 of the scheme's 33,000 UK members. It follows a £484m buy-in with Rothesay Life in 2013, and two buy-ins with Prudential in 2014. The firm said the...
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