Press release

Legal & General completes £230 million full scheme buy-in with the Howden Group Pension Plan

US-based Colfax Corporation secures another of its UK schemes with Legal & General

19 Mar 2019

This transaction for the Howden Plan follows on from a previous £250m transaction completed by Legal & General at the end of 2017 for another UK based pension scheme in the Colfax Corporation group.

Legal & General has insured benefits for all the Plan’s members and will now work with the Trustees and their advisers to transfer responsibility for paying members’ benefits which will enable the Plan to complete its buyout.

Chris DeMarco, Managing Director, UK Pensions Risk Transfer: "Through a close collaborative relationship with the Trustees and their advisers, we were able to deliver a solution which mirrored some of the Plan’s more complex details, whilst providing the reassurance of the strength, experience and client service capabilities of Legal & General."

Further information

Margrit Williams

Director of External Engagement

Legal & General Capital

Email Margrit Williams

Notes to editors

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at HY24) of which c40% (circa £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

Related content

Photograph of the exterior of an office building

Press release

Legal & General completes £1.1 billion full buy-in with Deutsche Bank Pension Scheme

Legal & General Assurance Society Limited (“Legal & General”) has completed a £1.1 billion full buy-in with the DB (UK) Pension Scheme (“the Scheme”), securing the benefits of around 4,000 members.

Press release

L&G Mastertrust launches new Sustainability Report, with expanded focus on nature and people

Trustees call on sector to go beyond TCFD reporting requirements and capture interdependencies between climate, nature and society.

Press release

L&G completes flagship Build to Rent scheme in London, delivering 1034 homes

New Acres provides 1034 homes across 18 buildings next to Wandsworth Town Station, making it L&G’s largest Build to Rent (BTR) scheme to date.