Partnership has signed an agreement with Rothschild to invest £150m in commercial property.
The insurer says the deal, announced to the stock market this morning, will further diversify its investment portfolio.
“We have signed an Investment management agreement with Rothschild to invest £150 million in commercial mortgages, further diversifying the investment portfolio,” the firm says.
“Partnership will benefit from Rothschild’s extensive experience of managing this asset class and Rothschild will co-invest alongside Partnership.”
The announcement comes after Partnership reported a slump in sales and profits during the first half of 2014 following radical annuity reforms announced in this year’s Budget.