Fujitsu scheme enters into £3.7bn longevity swap with Swiss Re

James Phillips
clock • 2 min read
Fujitsu scheme enters into £3.7bn longevity swap with Swiss Re

The ICL Group Pension Plan has entered into a £3.7bn intermediated longevity swap via a Guernsey-based captive, with Swiss Re reinsuring the risk.

The Fujitsu-sponsored defined benefit (DB) scheme worked with Insight Investment to utilise a platform designed to facilitate easier access to the reinsurance market. Approximately 9,000 pensioner members...

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