LONDON (Reuters) – UK life insurer Royal London has entered the market for corporate pension scheme insurance with a so-called bulk annuity deal for Royal Liver UK pension scheme, it said on Friday.
The mutual insurer also said in a statement it had transacted a bulk annuity deal with the trustees of the Royal London Group pension scheme, ahead of “intended participation” in the booming bulk annuity market.
Royal London reported a 19% rise in 2023 operating profit before tax to 249 million pounds ($318.89 million).
($1 = 0.7808 pounds)
(Reporting by Carolyn Cohn; Editing by Tommy Reggiori Wilkes)
