Scor provides £5.5bn longevity cover to Lloyds Bank pension
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Scor provides £5.5bn longevity cover to Lloyds Bank pension

Liz Bury
15 February 2022
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Scor has completed a £5.5bn ($7.5bn) longevity swap covering the Lloyds Bank No. 1 Pension Scheme against the risk of pensioners living longer than expected.

The deal is structured with Lloyds Banking Group subsidiary Scottish Widows as insurer and Scor providing 100% reinsurance.

It follows a deal in 2020 when the pension trustees bought £10bn ($13bn) of longevity cover from reinsurer Pacific Life Re.

The

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