Fujitsu-sponsored U.K. plan completes $5.1 billion longevity swap Getty Images ICL Group Pension Plan, Bracknell, England, insured £3.7 billion ($5.1 billion) in liabilities through a longevity swap with its own captive insurer, said a spokesman for Willis Towers Watson, an adviser on the deal. The deal was structured through an insurance company in Guernsey, which is owned by the plan's trustee. The name of the company was not available. It was the plan's first longevity swap and risk transfer transaction. The deal was reinsured by Swiss Re. The swap covers liabilities linked to 9,000 retired plan participants and about half of the total longevity risk of the £5 billion plan, which is sponsored by global information technology services company Fujitsu.