Insurance news. Legal & General today announced that it has completed a £530 million buy-in for the Siemens Benefits Scheme, a pension fund of the international company.
Karen Gainsford, the Principal Consultant of Aon commented: “We are really pleased to have assisted the Trustee with this significant transaction through a period of substantial volatility in financial markets,
“The transaction followed a period of meticulous preparation, while the agile and flexible process that we proposed allowed the Trustee to take advantage of market conditions and insurer appetite. The Scheme’s nimble governance was key to us being able to secure attractive terms so efficiently. It’s a great example of what will be needed throughout the remainder of 2020, as schemes seek to secure benefits in what is set to become a busy market once again.”
Any idea what constitutes a scheme’s “nimble governance” ?
“God help us”, says one of our correspondents.