Citi, Pension Insurance Corp. execute buyout of GBP 1.5B EMI pension fund

July 9, 2013

Citi, together with the sponsor and trustee of the EMI Group Pension Fund, have concluded a pension insurance buyout in the UK with Pension Insurance Corporation, a specialist provider of insurance solutions for defined benefit pension funds. The transaction covers GBP 1.5B of liabilities and 20,000 members. The transaction enables the trustee to insure all liabilities of the Fund with PIC, providing certainty to members and all parties involved.