Smiths Group Closes GBP760 Million Buy-in

02:50 AM EDT, 07/21/2026 (MT Newswires) -- Smiths Group (SMIN.L) said Tuesday that its Smiths Industries Pension Scheme completed a 760 million-pound-sterling bulk annuity buy-in with M&G (MNG.L). The transaction covers more than 10,000 members and brings nearly 17,000 scheme members under five annuity policies provided by M&G unit Prudential Assurance Co., Canada Life, and Pension Insurance Corp. The industrial engineering company said the deal was funded using existing scheme assets and did not require any additional company funding.