UK judge blocks £12 billion transfer of Prudential annuities to Rothesay Life
Share:
LONDON (Reuters) - A UK High Court judge has blocked the transfer of 12 billion pounds in annuities from insurer Prudential to Rothesay Life, the two companies said on Friday. The deal, which would have been the largest ever such transfer covering 400,000 policy holders, was announced in March last year at the same time Prudential said it was to demerge its UK business. In response to tougher European Union rules introduced after the financial crisis, insurers have increasingly looked to free..