Rothesay Life, a provider of solutions for pension schemes, agreed to acquire the portfolio of lifetime mortgages from Just Group, a financial services group, for $450m. This transaction enables the group to further reduce its exposure to UK residential property risk. As announced at the Interim Results, the sale of this portfolio of LTMs, including the remaining tranche, is expected to result in an improvement in the Group's Solvency II capital coverage ratio by up to 1 percentage point and also reduce the sensitivity of that ratio to movements in UK residential property prices by over 1 percentage point.