Reuters logo
Prudential talks to buyers for $13 billion British annuities book: Sky
November 6, 2017 / 1:12 PM / 16 days ago

Prudential talks to buyers for $13 billion British annuities book: Sky

(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.

FILE PHOTO: The logo of British life insurer Prudential is seen on their building, in London October 21, 2008. REUTERS/Stephen Hird/File Photo

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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below