Michelin scheme secures mega £1.5bn buy-in deal with Aviva

Largest BPA transaction of 2024 so far and Aviva’s largest external deal ever

Holly Roach
clock • 2 min read
Michelin scheme secures mega £1.5bn buy-in deal with Aviva

The Michelin Pension and Life Assurance Plan has completed a £1.5bn full scheme buy-in with Aviva, securing the benefits of 15,000 members.

The deal with the scheme – completed in September – included an in-specie transfer of assets and is the largest publicly announced bulk purchase annuity (BPA) transaction of 2024 so far. It is a...

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