Intact Financial Corporation, RSA UK Pension Trustees and Pension Insurance Corporation plc announce £6.5 billion UK pension buy-in agreement

Date February 27, 2023 6:30 AM EST

Intact Financial Corporation announced that the RSA UK Pension Trustees have entered into an agreement with Pension Insurance Corporation plc for Bulk Purchase Annuities with respect to £6.5 billion of RSA UK pension plan liabilities. 

The transaction transfers substantially all remaining economic and demographic risks associated with the Pension Schemes, removing balance sheet exposure to pension risks that are non-core to Intact’s business, supports Intact’s ROE outperformance objective by improving capital efficiency, and enhances the company’s ability to capture future strategic opportunities.

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