Legal & General completes £95m buy-in with 3i scheme

James Phillips
clock • 1 min read

The 3i Group Pension Plan has agreed a £95m bulk annuity transaction with Legal & General (L&G).

The deal covers around 20% of current pensioner liabilities and, in conjunction with a £200m buy-in with Pension Insurance Corporation (PIC) in 2017, means approximately 60% of pensioner liabilitie...

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

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Risk Reduction

WTW launches streamlined longevity swap solution

WTW launches streamlined longevity swap solution

Fixed-fee service aims to provide better reinsurance access for sub-£1bn schemes

Jonathan Stapleton
clock 28 July 2026 • 1 min read
20 pension schemes join Isio's PenUltimate Micro solution

20 pension schemes join Isio's PenUltimate Micro solution

Smaller DB scheme solution was launched last year to help with the insurance process

Holly Roach
clock 27 July 2026 • 1 min read
M&G completes £100m 'BPA-plus' transaction for Miller Insurance

M&G completes £100m 'BPA-plus' transaction for Miller Insurance

Proposition provides potential upside for members from discretionary bonus payments

Jonathan Stapleton
clock 24 July 2026 • 2 min read
Trustpilot