BBC Pension Scheme, Zurich and Metlife Complete £6 Billion Longevity Swap Deal
November 20 2025
The BBC Pension Scheme has completed a longevity swap with leading insurer Zurich Assurance Ltd (“Zurich”) and global reinsurer Metropolitan Life Insurance Company (“MetLife”) covering approximately £6 billion of pensioner liabilities representing around 21,000 members. This is the second longevity swap that the Scheme has executed with Zurich, following a £3 billion transaction in 2020.