£1bn Pilkington longevity swap ensures 2011 is record year

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Pilkington Superannuation Scheme has insured £1bn of liabilities against unexpected longevity increases, in a deal which confirmed 2011 as a record year for the de-risking market

The arrangements with Legal & General insure the payment of benefits to 11,500 pensioner members against future longevity risk and have been reinsured with Hannover Re. Chairman of trustees Andr...

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