C& W Offloads Pensioners in [Pounds]1bn Deal with the Pru

Daily Mail › September 25, 2008

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Summary

CABLE & Wireless took the first step towards breaking itself up by offloading half of its pension liabilities on to the Prudential in a [pounds]1bn buyout.

The deal is one of the biggest of its kind and is expected to be the first of a handful of similar multi-billion-pound bulk pension transfers.

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Extract

C& W Offloads Pensioners in [Pounds]1bn Deal with the Pru

C& W has bought what is known as a bulk annuity policy from the Pru. This effectively halves its re...

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