Lloyds Banking Group sells a £6bn Scottish Widows annuity portfolio to Rothesay Life, marking Rothesay's 6th bulk acquisition.
Lloyds Banking Group sells £6bn bulk annuity portfolio from Scottish Widows to Rothesay Life, marking Rothesay's 6th in-force bulk annuity acquisition. The deal includes benefits for 42,000 people and involves a Part VII transfer in 2022. Rothesay's assets under management will exceed £60bn after the acquisition. Scottish Widows will continue to administer policies until the transfer process is complete in 2025.
March 13, 2024
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