Rothesay Life to buy annuity book from Zurich UK Life for 1.2 bln stg

May 12, 2015 9:03 AM

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LONDON May 12 Specialist pension provider Rothesay Life will buy a legacy annuities portfolio from Zurich UK Life for 1.2 billion pounds ($1.88 billion), Zurich UK Life said on Tuesday.

Rothesay Life will initially reinsure the annuities book, which has not been actively marketed since 2005 and has 28,000 members, the life insurer said in a statement.

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