Aviva Secures £700m Buy-In with ABB Plan

Deal News | Aug 20, 2025 | Aviva PLC

Aviva Secures £700m Buy-In with ABB Plan

Aviva PLC has announced the completion of a significant £700 million bulk purchase annuity (BPA) buy-in transaction with the ABB Plan. This strategic move ensures the small group of retired members of ABB Plan in the UK receive specified benefits, while ABB secures coverage from longevity risk. This purchase signifies Aviva's ongoing commitment to offering financial security solutions in the UK market, fortifying its stance in the rapidly growing sector of annuities and retirement solutions.

Sectors

  • Insurance
  • Pensions

Geography

  • United Kingdom – The deal involves Aviva and the ABB Plan, both operating within the UK, underscoring the geographic focus of the transaction.

Industry

  • Insurance – The article revolves around Aviva's activities, which are centered on the insurance industry, specifically focusing on annuities.
  • Pensions – Aviva's transaction with the ABB Plan highlights the pension sector, focusing on securing retirement benefits for plan participants.

Financials

  • £700 million – The value of the buy-in annuity transaction between Aviva and the ABB Plan.

Participants

NameRoleTypeDescription
Aviva PLCPE FirmCompanyAviva is a leading insurance company in the UK, specializing in life, general insurance, and retirement products.
ABB PlanTarget companyCompanyThe ABB Plan is a pension scheme in the UK that benefits from the security provided by Aviva's annuity purchase.