Aviva has completed a £600 million bulk purchase annuity buy-in with the Trustee of the Wolseley Group Retirement Benefits Plan, securing benefits for nearly 10,000 members.
Target Information
Aviva has successfully completed a £600 million bulk purchase annuity buy-in agreement with the Trustee of the Wolseley Group Retirement Benefits Plan. This transaction, finalized in September 2025, aims to provide long-term financial security for the benefits of nearly 10,000 members of the Plan. Through this buy-in, all remaining uninsured defined benefits in the Plan are now adequately secured.
The Trustee received expert guidance in this transaction from Aon, the lead transaction adviser, with legal support from CMS. Additionally, the Company benefitted from the advisory services of LCP and Freshfields to ensure a smooth and effective process.
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Industry Overview
The bulk annuity market in the UK has seen significant growth in recent years, emerging as a viable option for pension funds seeking to manage their liabilities. As pensions and insurance c
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Disclosed details
Transaction Size: $600M