Mayer Brown advises Canada Life Re on longevity reinsurance arrangements with Legal & General - in connection with largest announced UK PRT deal of 2026 to date

London – Mayer Brown acted for Canada Life Re on the novation of longevity reinsurance arrangements from Zurich to Legal & General. The novation arose in the context of the completion of a £1.7 billion buy-in between the Trustee of the UBS (UK) Group Pension Plan and Legal & General, the largest announced UK pension risk transfer deal of 2026 to date. 

The Mayer Brown team was led by Global Insurance Industry Group partner Tom MacAulay and included Insurance counsel Amy Bennett and Pensions senior associate Henry Corrigan, with Finance partner Ed Parker and senior associate Will Price supporting on collateral aspects. The Mayer Brown team worked closely with the excellent Canada Life Re internal legal and business teams.