Scottish Power enters £1bn longevity swap

Kristian Brunt-Seymour
clock • 2 min read

Scottish Power has completed a longevity swap with Abbey Life to hedge £1bn of liabilities, covering 4,000 pensioners in the Manweb section of the Electricity Supply Pension Scheme.

The swap was structured as a tri-partite insurance policy between the Electricity Pension Trustee, the Group Trustee and Abbey Life Assurance Company. It will hedge against the risk of rising costs...

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

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Six BPA insurers wrote deals of more than £5bn for first time last year

Six BPA insurers wrote deals of more than £5bn for first time last year

LCP says last year ‘most competitive year ever’ for BPA insurers

Jasmine Urquhart
clock 27 March 2025 • 2 min read
Webinar: Assessing the benefits of run-on – Register now

Webinar: Assessing the benefits of run-on – Register now

How run-on can work in practice and the key considerations for trustees and sponsors

Professional Pensions
clock 27 March 2025 • 1 min read
Rothesay publishes full-year trading update revealing £15.7bn of business in 2024

Rothesay publishes full-year trading update revealing £15.7bn of business in 2024

Deals include a £9.6bn NatWest transaction and the firm’s Scottish Widows acquisition

Jonathan Stapleton
clock 27 March 2025 • 2 min read
Trustpilot