Lloyds Banking Group pension trustees complete £5.5bn longevity swap with SCOR
15 February 2022·1 min read
Lloyds Banking Group pension trustees today completed a longevity swap that transfers responsibility for a £5.5bn bloc of liabilities in the Lloyds Bank Pension Scheme No. 1 to reinsurer SCOR, with Scottish Widows acting as the insurer. The contract covers pensions for more than 17,000 members and is…
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