Deutsche Bank to take on £3bn BMW longevity risks
Deutsche Bank is to take over the longevity risks of nearly £3bn of pension liabilities from BMW’s UK scheme in what will be the largest deal ever done in corporate longevity insurance in the UK.
The deal is being carried out through the bank's insurance subsidiary, Abbey Life, and was structured in partnership with Paternoster, the specialist pensions business 40 per cent owned by Deutsche
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