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The deal covers three schemes
Three Lloyds Banking Group pension schemes have transferred £10bn of longevity risk to Pacific Life Re in the second-largest longevity swap ever.
The deal, which was facilitated by Scottish Widows this month, covers the risk of members in the Lloyds Bank Pension Scheme No 1, Lloyds Bank Pension Scheme No 2, and HBOS Final Salary Pension Scheme....
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