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Legal & General Group completes £750M pension buy-in with ICI fund

Legal &General Group Plc and the ICI Pension Fund completed a £750 millionpension risk transfer deal.

The transfer was executed shortly after the U.K.'sreferendum on EU membership, with an aim to capitalize on the marketopportunities. Legal & General noted that it hasmade pension buy-in deals worth £5 billion with ICI Pension Fund since 2014.

The insurer added that it has executed bulk and individualannuity business of £4.5 billion year-to-date, compared to full-year 2015annuity sales of £2.7 billion.