Court blocks £12bn annuity transfer from Prudential to Rothesay Life

James Phillips
clock • 2 min read

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".

In a court judgment issued on Friday (16 August), Justice Snowden declined the request to approve a Part VII transfer, noting Rothesay Life was a "relatively new entrant" and "does not have the sam...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Industry

Nest publishes 2023/24 annual report and accounts

Nest publishes 2023/24 annual report and accounts

Government-backed master trust AUM grew to more than £40bn as at 31 March 2024

Martin Richmond
clock 13 December 2024 • 2 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

L&G endgame report, PPF 7800 Index, endgame targets, £370m buy-in, dashboards

Professional Pensions
clock 13 December 2024 • 1 min read
Disorderly net-zero transition will have 'severe' impact on scheme returns

Disorderly net-zero transition will have 'severe' impact on scheme returns

Ortec Finance says physical risks could ‘slash returns’ in UK pension fund portfolios

Holly Roach
clock 12 December 2024 • 1 min read
Trustpilot