UPDATE 1-BMW lays off UK pension liabilities with Deutsche Bank

Newswire

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 ...

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