Updated
Updated · Bloomberg · Oct 13UBS Transfers £1.7 Billion UK Pension Assets to Legal & General
2 articles · Updated · Bloomberg · Oct 13Summary
- £1.7 billion of UBS's UK pension assets were shifted to Legal & General in the biggest such risk-transfer deal reported this year.
- Legal & General will manage the risks of the UBS pension plan, which covers about 7,000 members, under the transaction announced Tuesday.
- The deal forms part of £5.7 billion in global risk-transfer volumes that L&G highlighted in its first-half results on Aug. 5.
Insights
With fierce rivals entering the market, how did L&G secure UBS's massive £1.7 billion pension transfer despite shrinking profit margins? What hidden data strategies allowed UBS to execute the largest UK pension risk transfer of the year just as market conditions tightened? As corporations rush to offload billions in pension risks, are we simply shifting the ultimate danger to a few overexposed mega-insurers?