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Lloyds buys Zurich UK's pensions, savings business

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Lloyds buys Zurich UK's pensions, savings business

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LONDON (Reuters) – Lloyds Banking Group <LLOY.L> has agreed a deal to buy Zurich Insurance’s <ZURN.S> UK workplace pensions and savings business, the bank said on Thursday. The business has 15 billion pounds ($19.82 billion) in assets under administration and around 500,000 customers, Lloyds said in a statement. Lloyds has not disclosed the price for the deal, a spokeswoman said.

(Reporting by Carolyn Cohn and Emma Rumney; Editing by Rachel Armstrong)
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