Arc Guides £17M L&G Pension Deal For Shipping Co.

Law360, London (June 10, 2021, 3:50 PM BST) -- A British shipping company has insured £17 million ($24 million) of its pension liabilities under a deal with Legal & General Assurance Society Ltd., the insurer said Thursday.

The deal will see the workplace pension scheme of John Good & Sons Ltd. insured against the risk its 80 members live longer than expected. The trustee was advised by Arc Pensions Law.

Advisers involved in the deal said that by carrying out significant preparation beforehand, Yorkshire-based John Good was able to react quickly to sudden market changes and get lower prices for the insurance.

"This is a great example of a scheme...

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