UK - In the first deal of its kind, the trustees of Friends Provident Pension Scheme (FPPS) have entered in to a bulk annuity 'buy in' with Norwich Union to de-risk its investments.
The £350m (US$679.5m) deal, a first for a FTSE 100 company, would involve Norwich Union taking on the liabilities of the FPPS' current pensioners to de-risk the scheme. Norwich Union and the FP...
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