Citi has secured a £1.5bn buyout for its EMI Group Pension Fund in the biggest bulk annuity deal concluded in the UK so far.
The transaction with Pension Corporation (PIC) covers all risk associated with the liabilities of the scheme's 20,000 members. Citigroup became the sponsoring employer of the scheme when it sold two...
The Association of British Insurers (ABI) Pension & Assurance Scheme has insured benefits for 191 members in a £26m buy-in with Aviva.
The defined benefit (DB) scheme of Shepherd Foods (London) has completed a £3m buyout with Aviva, insuring the benefits of 13 pensioner and deferred members.
General Motors has agreed a £53m bulk purchase annuity transaction with Aviva for the Vauxhall Associated Companies Pension Fund (VACPF).
Rothesay has completed a £6m follow-on buyout with an unnamed aviation scheme, insuring benefits of eight pensioners and 31 deferred members.
Pension Insurance Corporation (PIC) concluded £5.6bn on bulk annuities in 2020 after recording just over £2.1bn in the second half of the year.