Legal & General finished £370m buy-in with TUI Group UK pension

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,…