MetLife reinsures £280m of PIC liabilities

James Phillips
clock • 2 min read

MetLife has completed its first UK longevity reinsurance transaction, covering the risk of £280m of Pension Insurance Corporation (PIC) liabilities.

Conducted through a subsidiary, Metropolitan Tower Life Insurance Company, the deal follows a £40bn-plus year for the pension risk transfer market, with PIC insuring £7.2bn of UK defined benefit (D...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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