Aegon U.K. Staff Retirement and Death Benefit Scheme, Edinburgh, insured £160 million ($199 million) in pension liabilities through a buy-in with Scottish Widows.
The latest deal covers the liabilities of 500 retired plan participants for the £1 billion pension fund.
"This buy-in is a further significant step in the implementation of our derisking strategy and helps to improve the long-term security of all our members' benefits," said Maurice Brunet, trustee chairman of the pension fund, in a news release Monday.
