(Reuters) - Britain’s Prudential (PRU.L) plans to break up its 10 billion pound ($13 billion) British pensions annuities book into four parts, in a move that could see the insurer leave its domestic market, Sky News said.
The company has contacted potential buyers in the last few weeks, Sky News said on Monday. bit.ly/2h6AcRL
The portfolio would be divided into four parts of between 2-3 billion pounds each, Sky said citing a person briefed on the insurer’s plans.
Rothesay Life, Legal & General (LGEN.L) and Pension Insurance Corporation were potential buyers according to the media report.
A spokesman for Prudential said the insurer does not “comment on market rumor and speculation”.
Reporting by Noor Zainab Hussain in Bengaluru, editing by Louise Heavens