Legal & General has completed a £370m buy-in with the BAL section of the TUI Group UK Pension Trust.
This deal, which was finalised in late 2024, comes after a first £610m transaction in 2021 and now all section benefits are secured.
Following the initial transaction, the trustee worked collaboratively with Legal & General to monitor pricing for a period of 18 months and ensured they were in a position to react to favourable market conditions and transact at an opportune time. This also ensured an efficient transaction while affordability remained attractive.
Adrian Somerfield,…
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