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Aegon and UBS team up to provide pension buy-out service

Aegon and UBS Global Asset Management are to join forces to create a bulk annuities service to help large companies offload their pension fund liabilities.

The UBS Aegon Affordable Risk Transfer Solution will be aimed at pension funds with liabilities in excess of £300m and will combine insurance, administration, asset management and risk management capabilities.

Aegon chief executive Otto Thoresen says: “Linking with UBS Global Asset Management will enable us to provide a bespoke bulk annuity service to a different segment of the corporate market from the SME market where we have made a strong start.”

UBS Global Asset Management head of global investment solutions Brian Singer says together the two companies can provide customised solutions to their clients’ needs.

He says: “ This initiative brings longevity risk management into the toolkit of the asset manager and perfectly complements our dynamically-managed investment solutions for pension plans.”

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