Trustee of the Sanofi Pension Scheme’s £760 Million Buy-In With Legal & General Assurance Society Limited

In UK CMS Cameron McKenna Nabarro Olswang LLP, Macfarlanes LLP, advised on the matter.

CMS Cameron McKenna Nabarro Olswang LLP advised Trustee of the Sanofi Pension Scheme with a team including Maria Rodia (Picture – Employment).

Macfarlanes LLP advised Legal & General Assurance Society Limited with a team including Andrew Barton (Employment).

The Sanofi Pension Scheme has agreed a £760m buy-in with Legal & General (L&G) Assurance Society, securing the benefits of around 2,900 retirees. 

This transaction represents the Scheme’s first Pension Risk Transfer transaction with Legal & General, after being a long-term asset management client. 

Maria Rodia (Picture), Partner at CMS, led the transaction. The CMS team also included Amanda Chamming’s, Thomas Bates, Tasmin Patel and Ellie Spare. 

The Macfarlanes team was led by insurance partner Andrew Barton and included senior insurance solicitor Madison Isted and insurance solicitor Alexander Cibulskis.

 

Involved fees earner: Thomas Bates – CMS Cameron McKenna Nabarro Olswang LLP; Tasmin Patel – CMS Cameron McKenna Nabarro Olswang LLP; Maria Rodia – CMS Cameron McKenna Nabarro Olswang LLP; Ellie Spare – CMS Cameron McKenna Nabarro Olswang LLP; Andrew Barton – Macfarlanes LLP; Alexander Cibulskis – Macfarlanes LLP; Madison Isted – Macfarlanes LLP;

Law Firms: CMS Cameron McKenna Nabarro Olswang LLP; Macfarlanes LLP;

Clients: Legal & General Assurance Society Limited; Trustee of the Sanofi Pension Scheme;

Author: Giulia Di Palma