PGL Pension Scheme has completed a £900m longevity swap, using an insurance company owned by its sponsoring employer to access the reinsurance market.
The arrangement involved transferring a portion of the scheme's longevity risk to Phoenix Life, which is owned by the sponsor, Phoenix Group. Phoenix Life then reinsured the longevity risk on a ...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- 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
