The deal, which covers two-thirds of Total's £2.6bn pensioner liabilities, is the second largest bulk annuity deal to date after
Total, the fifth largest listed oil company in the world, has about 7,000 defined benefit pensioners in the
A batch of jumbo-sized buy-in, buy-out and longevity swap deals this year have put 2014 on track to be a record year for the pension scheme insurance market.
Last year saw just over £16bn of deal signed by pension insurers and pension trustees.
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