Pension Insurance Corporation (PIC) has concluded a £300m buy-in with the trustees of the VA Tech UK Pension Scheme, including a retrocession to Siemens' captive reinsurer.
The transaction for the defined benefit (DB) scheme, which is sponsored by Siemens, was split into two tranches of pension liabilities insured. This included £100m of liabilities which were first i...
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
