Aliaxis U.K. Defined Benefit Pension Scheme, Lenham, England, insured £50 million ($67 million) in liabilities through a buy-in transaction with Just Group, said a spokesman for Willis Towers Watson, which advised the pension fund.
The transaction follows an initial £35 million buy-in completed for the pension fund by the pipe systems manufacturer in November 2016, also with Just Group.
"Following the success of the first buy-in transaction, the trustees were happy to continue our partnership with Just. The second transaction has further increased the security of our (participants') benefits at a price that was very attractive to the trustees," said trustees of the Aliaxis pension fund in a news release.
The U.K. assets of Aliaxis pension fund could not be learned by press time. Aliaxis' total pension obligation amounted to €372 million ($438 million) as of May 28.