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UK’s Partnership Assurance signs $320.52m medically bulk annuity

UK’s Partnership Assurance signs $320.52m medically bulk annuity

LONDON: UK’s Partnership Assurance Group said on Monday it had agreed to UK’s largest ever 206 million pound ($320.52 million) medically underwritten bulk annuity transaction with a pension scheme.

This deal will see the British company insure members of the scheme with the largest liabilities, who represent a disproportionate risk concentration for the scheme.

Further details of the scheme and its identity could be disclosed as the scheme’s members have not yet been informed of the specifics of the transaction.