M&S completes £1.4bn buy-ins with Phoenix and PIC
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
The policies were purchased last month with Phoenix and Pension Insurance Corporation (PIC), and mean longevity exposure for two-thirds of current pensioners is now hedged. In this round of bulk annuity...
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UPDATED: The biggest buy-ins and buyouts announced since 2007
There have now been a total of over 50 buy-in and buyout deals of over £500m announced since 2007. The full list is as follows...
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