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, L&G is one of the UK's leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

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

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