Communications services giant WPP has insured £140m of defined benefit liabilities with the Pension Insurance Corporation.
The buy-ins, which cover both pensioner and deferred liabilities, are applied to members of five of the company's pension schemes.
Industry experts have predicted that 2018 will be a record year for bulk annuity deals, with keen insurer pricing available to those who reach the market first.
Peter Docking of Independent Trustee Limited, the trustee chair for each of the five schemes, said: “This was a complicated transaction and I want to thank PIC for their dedication and assistance in helping us to achieve our aim of securing the benefits of pension scheme members.”
