A&O Guides £190M Pension Deal For Pfizer Subsidiary
Law360, London (May 27, 2021, 2:00 PM BST) -- A subsidiary of U.S pharmaceutical giant Pfizer Group has insured £190 million ($270 million) of its pension liabilities with Aviva Group, the British insurer said on Thursday.
The deal means that Philadelphia-based John Wyeth & Brother will be protected against the risk that 2,000 members in its defined benefit scheme could live longer than expected. The agreement is the second for the Wyeth Group Pension and Life Assurance Scheme, which covers U.K. employees, after it sealed a £158 million deal with a pensions company, Just Group, in February 2019.
"This is another important step for the scheme and wider group as...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!