On the go: In a trading update issued on July 5, insurer Rothesay Life said that in the first half of 2019 it assisted four pension schemes to de-risk their liabilities, resulting in new business premiums of £700m.
The insurer noted that there was a strong new business pipeline, and revealed that it had now deployed all of the assets received from its purchase of the £12bn Prudential annuity portfolio.
As at June 30 2019, the group’s assets under management were £37.7bn, and the market consistent embedded value of the business had increased to £3.7bn.
The update added that the group’s solvency position remained robust, with a solvency capital requirement coverage ratio of 176 per cent at the level of the group’s operating company, Rothesay Life Plc, and 177 per cent at group level.
