By Sarah Hills LONDON, Feb 22 (Reuters) - German car maker BMW has offloaded 3 billion pounds ($4.6 billion) of longevity risk from its UK pension scheme to Deutsche Bank , in the largest longevity insurance transaction conducted to date. The German bank's insurance subsidiary Abbey Life carried out the deal, which was structured with British specialist pension insurer Paternoster in which Deutsche is a shareholder, in order to cover the pension scheme liabilities related to ...
Premium Content (PAID Subscription Required)
"UPDATE 1-BMW lays off UK pension liabilities with Deutsche Bank" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.