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Prudential talks to buyers for 10 billion pound British annuities book - Sky

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11/06/2017 | 02:13pm CET
FILE PHOTO: Shadows are cast onto the logo of British life insurer Prudential on their building in London

Britain's Prudential plans to break up its 10 billion pound 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. http://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 and Pension Insurance Corporation were potential buyers according to the media report.

A spokesman for Prudential said the insurer does not "comment on market rumour and speculation".

(Reporting by Noor Zainab Hussain in Bengaluru, editing by Louise Heavens)

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