BBC enters £3bn longevity swap with Zurich and Canada Life

James Phillips
clock • 2 min read
The deal is Zurich's largest longevity swap
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The deal is Zurich's largest longevity swap

The BBC Pension Scheme has completed a £3bn longevity swap deal with Zurich and Canada Life Reinsurance, covering the risk of pensioner and dependent members.

Zurich acted as the insurer in the transaction, which is its largest longevity swap to date, while Canada Life has provided the reinsurance. The deal completed last Friday (11 December), and covers just...

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