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

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

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(Reuters) – Britain’s Prudential <PRU.L> 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. The company has contacted potential buyers in the last few weeks, Sky News said on Monday. http://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 <LGEN.L> 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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