Lloyds Banking Group enters into three further longevity transactions

Lloyds Banking Group Pensions Trustees Limited has entered three new longevity insurance and reinsurance transactions, safeguarding a further £4.8 billion of pension liabilities against the risk of unexpected increases in member life expectancy.The new arrangements cover pensioner liabilities across three major schemes. A £3.1 billion in the Lloyds Bank Pension Scheme No.1, and a £0.7 billion in the Lloyds Bank Pension Scheme No.2 transactions closed in December 2025.A £1.0 billion related to the HBOS Final ...