Rothesay Life secures buy-out with Asda Group Pension Scheme

Today Rothesay Life announced, along with Asda, Walmart and the Asda Group Trustee, a bulk annuity worth £3.8bn in anticipation of a full buy-out of the Asda Group Pension Scheme. This brings Rothesay's total new business for the year to over £16.5bn – the largest total for any bulk annuity insurer ever.

The transaction will remove all future Scheme liabilities from the Asda and Walmart balance sheets, and will be enabled by a one-off final pension contribution from Asda of c.£0.8bn.

For the full press release click here