BMW to offload UK pension liabilites to Deutsche- FT

Newswire

LONDON, Feb 22 (Reuters) - German car maker BMW is set to announce a deal on Monday to offload 3 billion pounds ($4.62 billion) of longevity risks from its UK pension scheme to Deutsche Bank , the Financial Times reported. The German bank's insurance subsidiary Abbey Life will carry out the deal, which was structured with British pension insurer Paternoster, the paper said. No one at Deutsche Bank or BMW could immediately be reached for comment. BMW's defined benefit pension fund had ...

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