Companies Bp Plc FollowJuly 7 (Reuters) - Energy giant BP (BP.L) is in talks with insurers over a so-called buy-in deal for its 30 billion pound ($38.30 billion) pension scheme, the Financial Times reported on Friday. Such options include long-term insurance policies," BP Pension Fund Trustee said in an emailed statement. Companies have been trying to offload pension schemes from their balance sheets in recent years as they are expensive to run, while bulk annuity deals have provided a growing source of income for insurers. In February, Pension Insurance Corporation agreed to a pensions buy-in deal totalling around 6.5 billion pounds with insurer RSA Group, covering the pensions of 40,000 members, in the largest ever bulk annuity deal of the kind. That buy-in involved the insurer taking on the risk of the pension scheme's liabilities.

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Persons: Yadarisa, Shinjini Organizations: Bp, Energy, BP, Financial Times, BP's, Fund, Pension Insurance Corporation, RSA Group, Thomson Locations: Bengaluru, Shadia, London