Legal & General publishes on its website:
“Legal & General Assurance Society Limited (“Legal & General”) today announces that it has completed a c.£95 million buy-in with the Trustees of the 3i Group Pension Plan (“the Plan”).
The buy-in covers around 20% of the Plan’s liabilities for pensions already in payment. Together with the buy-in policy purchased with Pension Insurance Corporation (PIC) in 2017, approximately 60% of the Plan’s liabilities for pensions already in payment are now insured.
3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its core investment markets are northern Europe and North America.
The Trustees were advised on the transaction by LCP and Linklaters. Legal advice was provided to Legal & General by Macfarlanes.”
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