Macfarlanes has advised Legal & General on a £370m buy-in with the BAL section of the TUI Group UK Pension Trust.

The buy-in completed in late 2024, with a portion of the premium being deferred over the next two years to allow the scheme to run-off some of its illiquid assets.

The Macfarlanes team was led by Insurance Partner Andrew Barton and Senior Counsel Madison Kaur.