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L&G scoops second pensions megadeal of the year

Nortel buyout means L&G has now completed half of all the UK's pensions deals by volume in 2018

Legal & General, the FTSE100 insurer, has signed its second multibillion-pound pensions deal in a month — meaning 2018 has now smashed the annual record for these transactions.

L&G, which specialises in acquiring closed company pension funds, announced a £2.4bn buyout of the fund belonging to the collapsed UK-Canadian telecoms giant Nortel Networks, via a statement on October 8.

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