UK - Beleaguered insurer Royal & SunAlliance is to sell its group risk business to Canada Life for £60m.
The disposal follows several months after it sold its asset management business to Friends Ivory & Sime for £28m.
R&SA group chief executive Bob Mendelsohn said: “Given our increasing focus on general insurance, we believe the time is right for ownership to pass to a company with a strong life focus.”
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers