Imperial Tobacco in £1.8bn buy-in with Standard Life

Biggest buy-in of 2021 so far is Standard Life’s largest deal as business ramps up

James Phillips
clock • 3 min read
Standard Life managing director of defined benefit solutions Justin Grainger
Image:

Standard Life managing director of defined benefit solutions Justin Grainger

The Imperial Tobacco Pension Fund has insured the benefits of around 6,600 pensioner members in a bulk annuity with Standard Life.

The £1.8bn buy-in for the scheme, sponsored by Imperial Brands, is the largest buy-in of 2021 to be announced so far, and the second largest bulk annuity following the £2.2bn buyout of the Metal Bo...

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 Global

Industry Voice: SI dilemmas — is 'E' or 'S' more important?

Industry Voice: SI dilemmas — is 'E' or 'S' more important?

Sustainable investing has become mainstream, but it’s not a perfect science, with many challenges that practitioners must face.

Robeco
clock 17 May 2022 • 2 min read
Industry Voice: Adapting to a changing interest rate environment

Industry Voice: Adapting to a changing interest rate environment

2022 has been a turbulent year but in terms of monetary policy, it has also been a fascinating one

Invesco
clock 12 May 2022 • 1 min read
Industry Voice: Tackling inflation ⁠— the fixed income view

Industry Voice: Tackling inflation ⁠— the fixed income view

With real yields negative in many markets, where might you find the returns you need?

Invesco
clock 11 May 2022 • 1 min read
Trustpilot