Legal & General has completed a £1.65 billion buy-in with the Wood Pension Plan. The transaction secures retirement benefits for all 16,400 plan members. This deal represents a major step in the plan's long-term de-risking journey.
Trustees prioritized member experience alongside competitive pricing, reflecting a broader trend in the pension risk transfer market.
Separately, the company admitted 101,517 new ordinary shares to the London Stock Exchange. Legal & General allotted these shares through its employee Sharesave Scheme. The new securities are fully fungible with the company's existing ordinary shares.