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...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

M&G completes first with-profits BPA and announces £1.5bn of volumes in 2025

M&G completes first with-profits BPA and announces £1.5bn of volumes in 2025

Firm’s full-year results show 65% year-on-year growth in BPA sector

Linus Uhlig
clock 12 March 2026 • 2 min read
Isio completes first PenUltimate Micro buy-in with Godolphin scheme

Isio completes first PenUltimate Micro buy-in with Godolphin scheme

Scheme secured buy-in within seven months of consultant’s appointment

Jonathan Stapleton
clock 11 March 2026 • 2 min read
Hymans Robertson launches run-on service for DB schemes

Hymans Robertson launches run-on service for DB schemes

Horizon helps test the economics of running on and to design and optimise strategies

Jonathan Stapleton
clock 10 March 2026 • 2 min read
Trustpilot