The ESAB Group (UK) Limited Pension & Life Assurance Scheme has purchased a £255m full buy-in with Rothesay Life, covering benefits for all 900 members of the scheme.
Almost £35bn of defined benefit (DB) liabilities have now been insured this year after yet another giant buy-in by the Asda Group Pension Scheme with Rothesay Life.
The National Grid UK Pension Scheme has agreed a £2.8bn buy-in deal with Rothesay Life, covering the benefits of an unspecified number of pensioner members.
As the risk reduction market gets busier and busier, Jonathan Stapleton says preparations must become more comprehensive for schemes to gain a foothold.
Rothesay Life has lodged an appeal against the High Court’s decision to block the £12bn transfer of Prudential’s annuity book.
The Allied Domecq Pension Fund has insured £3.8bn of members’ benefits with Rothesay Life, in the market’s largest deal to cover both pensioner and deferred members.