Rothesay Life has agreed the UK’s largest ever bulk annuity deal to date – a £4.7bn buyout of the GEC 1972 Plan, making 2019 officially a record-breaking year.
Rothesay Life has completed £3.7bn of bulk annuity transactions so far in the second half of this year, according to its latest trading update.
The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and differing "capital management policies".
The Cadbury Mondelēz Pension Fund has agreed a £520m buy-in with Rothesay Life, insuring benefits for around 1,900 pensioner members.
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.
Rothesay Life completed around £700m of bulk annuity transactions in the first half of 2019, according to its latest trading update.
The National Express UK Pension Scheme has completed a full buy-in with Rothesay Life, insuring benefits for all members.