Legal & General completes record-breaking £4.6bn partial buyout with Rolls-Royce

The Rolls-Royce UK Pension Fund (RRPF) has insured benefits for around 33,000 pensioners in a record-breaking buyout with Legal & General (L&G).
The deal is in excess of £4.6bn, the largest buyout ever conducted in the UK, vastly surpassing the £2.5bn transaction completed between L&G and automotive firm TRW in November 2014. As part of the...
More on Risk Reduction
Pension Schemes Bill set for final debate next week
The Pension Schemes Bill has been scheduled for ping-pong, its penultimate step before becoming law.
Marie Curie completes £30m buy-in with L&G in first 2021 deal
The Marie Curie defined benefit (DB) scheme has entered into a circa £30m full scheme buy-in agreement with Legal & General (L&G) Assurance Society.
MetLife reinsures $2bn of Legal & General pension risk
Metropolitan Tower Life Insurance Company has announced it completed four longevity reinsurance transactions with Legal & General (L&G) Assurance Society last year.
Navigating covenant and ESG in 2021 - what does the environment look like?
Michael Bushnell looks at the continuing impact of the pandemic on employer covenant and ESG risks, and how schemes can plan ahead.
Buy-in and buyout volumes to reach £30-£40bn in 2021; Superfund 'floodgate' may open
Between £30bn and £40bn of pension risk is expected to be transferred to insurers via buy-ins and buyouts this year, Aon says.