By IPE Staff2020-12-16T12:47:00+00:00 The Maersk Retirement Benefit Scheme has agreed a £1.1bn (€1.2bn) bulk annuity transaction with Legal & General Assurance Society Limited, which will secure the benefits of around 1,900 deferred members and 3,000 retirees. The scheme’s trustee has, over the past few years, taken several steps to de-risk the scheme including fully hedging its interest rate and inflation exposures, it was announced. This approach put the Maersk scheme in a strong position to weather the recent market volatility and take advantage of an opportunity to further de-risk by entering into a buy-in transaction with Legal & General. Nigel Pusey, chair of the scheme’s trustee, said: “After many years of careful management and de-risking we have now secured our members’ benefits through a buy-in with Legal & General.”