Aviva completes £1.7bn buy-in with National Grid scheme

The buy-in insures the benefits for 5,800 pensioner members of the utility firm

Jonathan Stapleton
clock • 2 min read
The deal is with the National Grid section of the ESPS
Image:

The deal is with the National Grid section of the ESPS

Aviva has announced the completion of a £1.7bn pensioner buy-in with the National Grid Electricity Group of the Electricity Supply Pension Scheme.

The transaction – which completed in October 2024 – included transitioning National Grid's existing longevity swap with Zurich Assurance to Aviva. The buy-in insures the benefits for 5,800 pensione...

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

Industry group launches bulk annuity sustainability collaboration

Industry group launches bulk annuity sustainability collaboration

Insurers, advisers and schemes launch initiative to streamline BPA survey processes

Jonathan Stapleton
clock 06 February 2025 • 4 min read
Five schemes secure buy-in deals with Just Group

Five schemes secure buy-in deals with Just Group

The transactions were completed last year and range in value from £2m to £17m

Holly Roach
clock 06 February 2025 • 2 min read
Utmost Life and Pensions partners with Mantle for support on BPA market entry

Utmost Life and Pensions partners with Mantle for support on BPA market entry

Partnership will see Mantle provide ‘end-to-end’ support throughout the risk transfer process

Martin Richmond
clock 05 February 2025 • 2 min read
Trustpilot