Macfarlanes has advised Legal & General on the transaction.
The transaction involved the issuance of a buy-in policy by Legal & General that will cover the 3i Plan’s liabilities in respect of approximately 280 pensioners and 570 deferred members. It follows two previous pensioner buy-ins undertaken by the Trustees, including a c.£95m transaction on which Macfarlanes advised Legal & General in 2019, and results in the 3i Plan being fully insured through buy-in policies held as assets of the Plan.
The Macfarlanes team was led by insurance partner Andrew Barton (Picture) with assistance from senior insurance solicitor Madison Kaur and insurance solicitor James Penfold.
Law Firms: Macfarlanes LLP;
Clients: Legal & General ;