Mitchells & Butlers serves up £650m buy-in with L&G

Deal with pub and restaurant operator is the 20th to be announced by the insurer this year

James Phillips
clock • 2 min read
Mitchells & Butlers runs a number of pub and restaurant chains, including Toby Carvery. Photo: Mitchells & Butlers
Image:

Mitchells & Butlers runs a number of pub and restaurant chains, including Toby Carvery. Photo: Mitchells & Butlers

Legal and General (L&G) Assured Society has secured the benefits of all members in the Mitchells & Butlers Executive Pension Plan in a buy-in for around £650m.

The full-scheme bulk annuity deal builds on an existing relationship between L&G Investment Management and the pub and restaurant operator's defined contribution assets. Trustee chairman Jonatha...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Mandates

Industry Voice: What are scope 3 emissions and why are they important?

Industry Voice: What are scope 3 emissions and why are they important?

In this Explainer video, Thomas Höhne-Sparborth says investors need to look at all types of emissions to gain a true picture

Lombard Odier Investment Managers
clock 23 June 2022 • 1 min read
Industry Voice: Do net-zero targets affect investment returns?

Industry Voice: Do net-zero targets affect investment returns?

In this Explainer video, Thomas Höhne-Sparborth explains the best way to decarbonise an investment portfolio

Lombard Odier Investment Managers
clock 16 June 2022 • 1 min read
Industry Voice: Re-thinking the management of committed capital

Industry Voice: Re-thinking the management of committed capital

Michael Walsh, Niklas Jeschke and Paul Gallagher at T. Rowe Price
clock 25 May 2022 • 4 min read
Trustpilot