RCS - Rothesay Life PLC - Court supports Rothesay appeal

Mondelez InternationalAnnouncement

02/12/2020 11:40

RNS Number : 2613H
  
Rothesay Life PLC
  
02 December 2020
  
 

 
02 December 2020
Court supports Rothesay appeal on proposed transfer of annuity business from Prudential
Rothesay, the largest specialist annuity provider in the UK, welcomes today's decision from the Court of Appeal of England and Wales in connection with the proposed transfer of a portfolio of annuities from The Prudential Assurance Company Limited, a subsidiary of M&G Plc, to Rothesay.
The Court of Appeal's decision provides important clarity for our whole sector. As a purpose-built company, Rothesay is dedicated to providing our policyholders with the long-term security and excellent service that a specialist provider can offer. We are trusted by some of the UK's best known companies to provide pension solutions and we continue to experience strong growth in the market.
We look forward to continuing our strong relationship with M&G Plc. 
ENDS
 
Media Contacts             
Rothesay: Anthony Marlowe, Head of Communications & Public Affairs
+44 (0)7912 550184 or anthony.marlowe@rothesay.com   
Temple Bar Advisory: Alex Child-Villiers +44 (0)7795 425580, Will Barker +44 (0)7827 960151 or Sam Livingstone +44(0) 7769 655437 or rothesay@templebaradvisory.com 
 
Notes to Editors
About Rothesay 
Rothesay is the UK's largest pensions insurance specialist, purpose-built to protect pension schemes and their members' pensions. With £56 billion of assets under management, we secure the pensions of over 800,000 people and pay out, on average, more than £200 million in pension payments each month.
 
Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by some of the UK's best known companies to provide pension solutions, including the schemes of Allied Domecq, Asda, British Airways, Cadbury's, the Civil Aviation Authority, National Grid, the Post Office, Prudential and telent.
 
Rothesay has two substantial institutional shareholders, GIC and Massachusetts Mutual Life Insurance Company ("MassMutual"), who provide the company with long-term support for its growth and development. In September 2020, our shareholders increased their investment in Rothesay through a transaction which valued the business at £5.75bn.
 
Rothesay is the trading name for Rothesay Life Plc, a company authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number: 466067. Rothesay Life Plc is registered in England and Wales with company registration number: 06127279 and registered address: Rothesay Life Plc, The Post Building, 100 Museum Street, London WC1A 1PB. Further information is available at www.rothesay.com 

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