Water giant United Utilities strikes £1.8bn pension deal

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Water giant United Utilities strikes £1.8bn pension deal
Belgique Dernières Nouvelles,Belgique Actualités
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The FTSE-100 water supplier, which has 7 million customers across north-west England, has agreed a pension insurance agreement with Legal & General, Sky News learns

The FTSE-100 water group United Utilities has struck a £1.8bn deal to offload a chunk of its pension liabilities amid unprecedented scrutiny on the industry's financial resilience.

The agreement is one of a deluge of so-called pension risk transfer deals being struck with specialists such as L&G, Aviva and Pension Insurance Corporation . In a statement, the company said:"United Utilities has a strong balance sheet and, significantly, a fully funded pension scheme.

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