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Market Chatter: UBS Transfers $2.2 Billion UK Pension Assets to Legal & General

MT Newswires Live10-13

UBS (UBS) transferred 1.7 billion pounds ($2.2 billion) in UK pension assets to Legal & General Group, Bloomberg reported Tuesday.

The transaction was part of the 5.7 billion pounds in global pension risk-transfer deals that Legal & General reported for the first half, according to the report.

Legal & General will manage risks for the UBS pension plan, which has 7,000 members, and oversee a separate longevity hedge previously managed by Zurich Insurance Group, it added.

UBS did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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