Standard Life finishes £1.9bn annuity transaction with Sedgwick section of MMC UK pension fund

Standard Life, part of Phoenix Group, has completed a £1.9bn bulk purchase annuity transaction with the Sedgwick section of the MMC UK Pension Fund.

The transaction covers the benefits of all 6,500 members of the section, who were previously employed by Sedgwick Group, acquired by Marsh McLennan in 1998.

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