M&G completes £150m buy-in for insurance scheme
The deal secures the pension benefits of nearly 1,200 members.
M&G has completed a £150m bulk purchase annuity (BPA) for a pension scheme sponsored by a UK insurance company.
The deal secures the pension benefits of nearly 1,200 members.
Prudential Assurance Company Limited, a subsidiary of M&G, executed the transaction in June 2026.
The arrangement was structured as ‘BPA Plus’, which combines the security of a traditional bulk annuity with the chance for members to get discretionary bonuses in future, depending on investment performance.
This has been made possible by using the scale of M&G’s £132bn With-Profits Fund.
The scheme allows members to secure their core benefits while keeping the potential for extra returns.
The trustee chose M&G after a competitive process, focusing on financial strength, experience and the ability to provide a solution suited to the scheme’s needs.
WTW was lead transaction adviser and scheme actuary, Clyde & Co provided legal advice and Mercer acted as investment adviser.
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