Transaction will protect the fund against rising costs and provide greater security
L&G insures the benefits of around 1,200 members after working with the scheme for 12 years
The Baker Hughes (UK) Pension Plan has secured approximately £100m of liabilities through a buy-in with Just Group.
Zurich has agreed to insure £800m of longevity risk for the pensioners of a FTSE 100-sponsored pension scheme.