Lloyds Bank pension trustees agree 10 billion pounds insurance deal

This post was originally published on this site


LONDON (Reuters) – Lloyds Banking Group (LON:) Pensions Trustees limited said on Wednesday it had agreed a 10 billion pounds ($13.14 billion) pension insurance deal to protect against the cost of its members living longer than expected.

The insurance and reinsurance deal, agreed with Scottish Widows Limited and Pacific Life Re Limited, covers Lloyds Bank Pension Scheme No.1, Lloyds Bank Pension Scheme No.2 and the HBOS Final Salary Pension Scheme, it said in a statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.