Rothesay to acquire Scottish Widows bulk annuity portfolio from Lloyds Banking Group.

Rothesay, a pensions insurance specialist, agreed to acquire Scottish Widows bulk annuity portfolio from Lloyds Banking Group, a British financial institution. Financial terms were not disclosed. “I am delighted that Lloyds Banking Group has chosen Rothesay as the long-term home for its bulk annuity business and look forward to welcoming our new policyholders from Scottish Widows. Rothesay’s substantial capital resources combined with the proven strength of our execution capabilities mean we are able to deliver solutions for our clients across all areas of the pension de-risking market. We are proud to provide award-winning levels of customer service for our policyholders along with long-term security for their retirement,” Tom Pearce, Rothesay CEO.