Scor provides £5.5bn longevity cover to Lloyds Bank pension
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

Scor provides £5.5bn longevity cover to Lloyds Bank pension

Liz Bury
15 February 2022
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Scor logo paris 2.jpg

Scor has completed a £5.5bn ($7.5bn) longevity swap covering the Lloyds Bank No. 1 Pension Scheme against the risk of pensioners living longer than expected.

The deal is structured with Lloyds Banking Group subsidiary Scottish Widows as insurer and Scor providing 100% reinsurance.

It follows a deal in 2020 when the pension trustees bought £10bn ($13bn) of longevity cover from reinsurer Pacific Life Re.

The

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

Scor News
Headshot template (new) (1).png
Liz Bury
Editor
Contact
Gift this article