Shepherd & Wedderburn Guides £26M Pension Deal For ABI
Law360, London (April 7, 2021, 2:48 PM BST) -- An employee pension scheme for the trade body of British insurers said on Wednesday that it has passed on £26 million ($36 million) of members' liabilities to insurer Aviva PLC.
The bulk annuity deal will see Aviva providing insurance against the risk that members of the Association of British Insurers Pension & Assurance Scheme live longer than expected.
The deal covers liabilities of 191 members of the retirement plan. It follows a transaction with Aviva in 2017, in which £10 million of pension liabilities was insured.
"All parties worked closely to ensure the smooth and efficient completion of this transaction which...
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!