The Association of British Insurers (ABI) Pension and Assurance Scheme has completed a buyout with Just Group valued at £18.4m, securing the benefits of all remaining scheme members.
The bulk annuity transaction - completed in June - covers 16 pensioner members and 118 deferred members of the ABI-sponsored scheme. This deal follows previous transactions by ABI to secure member benefits including its £26m buy-in deal with Aviva in 2021 through which the benefits associated with 191 pensioner members were secured, and a £10m buy-in in in 2017. Shepherd and Wedderburn provided legal advice to the scheme, while Just Group used internal legal counsel. Trustee chair Alan Ritchie said successful completion of the deal was "a culmination of a lot of hard work from trus...
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