Pilkington picks longevity swap

Date: 12 January 2012
Source: http://www.independent.co.uk
The glass maker Pilkington has agreed a £0.8bn pension longevity swap with Legal & General.

It brings the total number of swaps completed last year to five with a total value of liabilities covered to £7bn.

Longevity swaps allow firms to offset the risk of their pensioners living longer than expected. The trend for big corporates to manage future financial risk with such deals is growing, with BMW and Rolls-Royce already completing £3bn deals.

James Mullins, of Pilkington adviser Hymans Robertson, said: "several large transactions are still in the pipeline."

600450 Pilkington picks longevity swap glassonweb.com

See more news about:

Others also read

Prism Architectural: 7-8 St Martins Place, London
Prism Architectural are pleased to continue their working relationship with Willmott Dixon Interiors on 7-8 St Martins Place, London.
Selly Oak Retail Park Next for Bennetts
Aluminium glazing specialists Bennett Architectural have been chosen to work on the NEXT store at at the brand new Selly Oak Retail Park.
Kings College, Wimbledon
Prism Architectural are pleased to announce the appointment by Knight Harwood to deliver the external glazing to Kings College, Wimbledon.
Allegion Acquires Advanced Fire-Rated Glass Products Manufacturer TGP
Allegion, plc, a leading global security products and solutions provider, has acquired Technical Glass Products (TGP) through one of its subsidiaries.
Custom Folding Glass Wall for High-End Restaurant
When designing a three-story restaurant overlooking the Chicago River, a client approached Solar Innovations® for a custom Folding Glass Wall.
Pilkington Spectrum
Pilkington Spectrum, one of the industry’s most popular glass specifying tool, is now available to use on-the-go following the launch of a new smartphone app.

Add new comment