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

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The buy-in covers around 60% of the BA scheme's pensioner liabilities
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The buy-in covers around 60% of the BA scheme's pensioner liabilities

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 contracts...

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