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L&G completes UK's largest medically underwritten bulk pension risk deal

The logo of Legal & General insurance company is seen at their office in central London March 17, 2008. REUTERS/Alessia Pierdomenico

LONDON (Reuters) - Insurer Legal & General (LGEN.L) said on Wednesday it had completed the largest-ever deal to take on risk carried by a British pension scheme using medical data to help fix a price.

The deal will see L&G take on 230 million pounds worth of liabilities from the unnamed pension scheme in a de-risking structure known as a 'buy in'.

No further financial details were disclosed.

The agreement takes the total volume of new business won by its pension risk transfer team in the fourth quarter to more than 1.1 billion pounds, L&G said in a statement.

(Reporting by Simon Jessop, editing by Sinead Cruise)