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Prudential talks to buyers for 10 billion pound British annuities book - Sky
November 6, 2017 / 1:04 PM / a month ago

Prudential talks to buyers for 10 billion pound British annuities book - Sky

(Reuters) - Britain’s Prudential plans to break up its 10 billion pound British pensions annuities book into four parts, in a move that could see the insurer leave its domestic market, Sky News said.

FILE PHOTO: Shadows are cast onto the logo of British life insurer Prudential on their building, in London October 21, 2008. REUTERS/Stephen Hird/File Photo

The company has contacted potential buyers in the last few weeks, Sky News said on Monday. bit.ly/2h6AcRL

The portfolio would be divided into four parts of between 2-3 billion pounds each, Sky said citing a person briefed on the insurer’s plans.

Rothesay Life, Legal & General and Pension Insurance Corporation were potential buyers according to the media report.

A spokesman for Prudential said the insurer does not “comment on market rumour and speculation”.

Reporting by Noor Zainab Hussain in Bengaluru, editing by Louise Heavens

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