Corporate pension insurer Rothesay Life on Wednesday completed a £675 million ($1.02 billion) buyout of the pension plan for Lehman Brothers’ European arm, the Wall Street Journal reported today. Under the deal, the London-based insurer will take over the liability for the defined-benefits pension plan of Lehman Brothers International (Europe). The bulk annuity deal ensures some 2,466 former Lehman employees in Britain will finally receive their full pensions more than six years after the investment bank’s collapse.
