Reinsurance News
Rothesay
Rothesay completes £900m buy-in with National Grid
6th August 2025
Rothesay, a pensions insurance specialist, has completed a £900m buy-in with the National Grid UK Pension Scheme in July 2025, securing the benefits of 7,130 pensioners and their dependents. The transaction brings the total value of the Scheme’s de-risked liabilities with Rothesay to £4.5 billion, following previous buy-ins of £800 million ... Read the full article
Carnegie-Brown named Non-Exec Director and Chair Designate at Rothesay
3rd April 2025
UK pension insurance specialist Rothesay has appointed Bruce Carnegie-Brown as independent Non-Executive Director and Chair Designate from 1st May 2025. Naguib Kheraj, who has served on Rothesay’s Board since 2014 and as Chair since 2018, will step down on June 30, 2025, and be succeeded by Carnegie-Brown on July 1, 2025. Rothesay ... Read the full article
Rothesay, Pacific Life Re & PFI partner on Lloyds Banking Group pension longevity transaction
31st March 2025
Lloyds Banking Group Pensions Trustees Limited has entered into its third and fourth longevity hedging insurance and reinsurance transactions, protecting in aggregate a further £5.1 billion of liabilities. This arrangement will further protect the Lloyds Banking Group pension schemes from the financial impact of increasing life expectancy among its members. The new ... Read the full article
Rothesay secures £12.7bn in new business premiums in 2023
5th April 2024
In their latest trading update, Rothesay, a prominent UK pensions insurance specialist, completed de-risking transactions with twelve pension schemes during 2023, resulting in new business premiums of £12.7 billion, a substantial increase from £3.3 billion in 2022, ultimately making 2023 one of the firm's "strongest years of growth to date." The ... Read the full article
Rothesay and Thales seal £2.7bn insurance deal for Thales UK pension scheme
1st December 2023
Rothesay, a prominent UK pensions insurance specialist, has successfully executed a £2.7 billion transaction to insure all liabilities of the Thales UK Pension Scheme. This comprehensive deal covers over 16,000 members, including 10,512 pensioners and dependents, along with 5,915 deferred members. The transaction involved a strategic agreement with Thales, a global high ... Read the full article
Rothesay secures £4bn buy-in transaction for Co-op
24th November 2023
UK pensions insurance specialist Rothesay has completed a £4bn buy-in with the Co-op Section of the Co-operative Pension Scheme. According to Rothesay, the buy-in secures the benefits for almost 50,000 members of the Scheme, which includes defined benefit liabilities for 17,655 pensioners and dependants and a further 31,896 deferred members. The Scheme ... Read the full article
P&O obtains benefits of remaining pensioners in £440m buy-in with Rothesay
17th August 2023
P&O Pension Scheme has insured £440 million in liabilities through a full buy-in with Rothesay, securing benefits for around 5,300 members. The deal, which was agreed earlier this month means that the benefits for all the scheme’s members are now insured, following a previous buy-in agreement in 2007 with Paternoster which covered ... Read the full article
Rothesay completes £160m full scheme buy-in for Repsol Sinopec
2nd May 2023
UK specialist pensions insurer Rothesay has completed a £160 million full scheme buy-in with Repsol Sinopec, an oil and gas exploration and production company operating in the North Sea. The transaction secures the benefits for all members of the company’s scheme, which includes defined benefit liabilities for 141 pensioners and dependants ... Read the full article
Rothesay completes £1.2bn full scheme buy-in for The Co-operative Bank
14th December 2022
Rothesay, the UK's largest specialist pensions insurer, has completed a £1.2 billion full scheme buy-in with The Bank Section of the Co-operative Pension Scheme. The Section is sponsored by The Co-operative Bank the Manchester-headquartered retail and SME bank. The transaction secures the benefits for all uninsured members of the Bank Section - ... Read the full article
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