Rothesay Life Picks Up MetLife Unit With $5B In Assets

Law360, New York (February 19, 2014, 12:26 PM EST) -- Private equity-backed U.K. insurer Rothesay Life Ltd. will buy MetLife Inc.'s U.K. and Irish pension risk transfer solutions provider MetLife Assurance Ltd., which boasts about £3 billion ($5 billion) worth of assets under management, the companies said Tuesday.

The deal, which is expected to be completed in the second quarter of 2014, deal designed to bolster Rothesay Life's annuities portfolio. According to its website, the MetLife subsidiary has secured the benefits of more than 20,000 members. The terms of the agreement were not disclosed.

Rothesay Life CEO...
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