Legal & General agrees £4.6bn UK pensions buyout deal with Ford
Agreement comes as insurer seeks to ward off competition in lucrative transfer market for pension risk
Agreement comes as insurer seeks to ward off competition in lucrative transfer market for pension risk

Deal comes as large insurers and asset managers compete more aggressively for UK pension assets

Value of assets offloaded by UK groups fell to three-year low last year, just as US private capital firms pile in

New provider Scottish Widows is overhauling its offering

Prolonged downturn in dealmaking has meant fewer opportunities and squeeze on pay

Consortium, which includes Prudential Financial, would help fund buyouts of defined-benefit schemes

Plus, FCA’s pension scheme, UK borrowing overshoots and Sir Stanley Spencer at Gainsborough’s House