Prudential has sold £12bn in annuity assets to reinsurance business Rothesay Life as part of its M&G demerger announced today.
The sale, which covers about 400,000 policies, comes as the provider announced it would be splitting operations from its asset management arm M&G. It said the £12bn annuity sale was part of its transition...
AUM growth of 19% in first half of 2018
Move to improve access to institutional managers without a retail fund
Launching fund end of 2018
Purchased for undisclosed sum