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Partnership Assurance signs 206 mln stg bulk annuity deal
December 8, 2014 / 7:23 AM / 3 years ago

Partnership Assurance signs 206 mln stg bulk annuity deal

LONDON, Dec 8 (Reuters) - Partnership Assurance Group on Monday said it had agreed a 206 million pound ($320.52 million) medically underwritten bulk annuity transaction with a pension scheme, the largest ever in the UK.

The deal will see the British company insure members of the scheme with the largest liabilities, who represent a disproportionate risk concentration for the scheme.

As the scheme’s members have not yet been informed of the specifics of the transaction, further details of the scheme and its identity could be disclosed, it said in a statement. ($1 = 0.6427 British Pounds) (Reporting by Simon Jessop, editing by Louise Heavens)

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