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Zurich transfers annuity book to Rothesay Life

Zurich UK Life is to transfer its legacy portfolio of £1.2bn of annuities to specialist insurer Rothesay Life for an undisclosed fee. Under part seven transfer rules the transfer, of around 28,000 policies, is subject to a review process by regulators and courts before it can complete. Zurich has not actively promoted annuity sales since […]

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Aviva’s Casal replaces Womack as global real estate unit boss

Aviva Investors has appointed Ed Casal as chief executive, global real estate, replacing Ian Womack who is retiring. Casal, currently Aviva’s global indirect real estate managing director, will oversee Aviva Investors Real Estate global operations as well as joining the unit’s executive committee with effect from 1 July. Bart Coenraads, who is head of Asia […]

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Industry urges FCA clarity on pension transfer rules

The FCA needs to urgently clarify when new advice requirements on pension transfers will be applied, organisations across the pensions industry are warning. In its response to the regulator’s consultation on changes to pension transfer rules, the National Association of Pension Funds says conflicting definitions of money purchase benefits risk confusing when advice needs to […]

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