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

DB funding remains steady in December, Broadstone finds

DB funding remains steady in December, Broadstone finds

Broadstone index finds both its modelled schemes made steady progress during 2025

Jasmine Urquhart
clock 08 January 2026 • 1 min read
NG Bailey scheme completes £155m buy-in with PIC

NG Bailey scheme completes £155m buy-in with PIC

Bulk purchase annuity transaction secures the benefits of 1,581 members

Martin Richmond
clock 08 January 2026 • 1 min read
Ability to act decisively and strategically in BPA market 'never been more critical'

Ability to act decisively and strategically in BPA market 'never been more critical'

Standard Life says trustees will continue to select insurers that provide bespoke solutions and pricing

Jasmine Urquhart
clock 07 January 2026 • 2 min read
Trustpilot