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."