Rothesay

Rothesay is the UK's largest pensions insurance specialist, managing over £69 billion in assets and securing pensions for nearly one million people. The company is purpose-built to protect pensions, offering tailored solutions to secure pension schemes according to specific needs. Rothesay aims to create prosperity and security for the future, ensuring the well-being of both its employees and policyholders.

In March 2024, Rothesay announced its agreement to acquire Scottish Widows’ bulk annuity portfolio from Lloyds Banking Group, which secures pension policies for over one million individuals. The company completed de-risking transactions with twelve pension schemes during 2023, achieving new business premiums of £12.7 billion, marking one of its strongest years of growth. Additionally, Rothesay executed a £12 billion transaction with Prudential, the largest of its kind in the UK, structured as reinsurance of an in-force block of annuities.

Rothesay has an extensive track record in pension risk transfer, with cumulative transactions exceeding £12 billion. This includes the acquisition of a £6.4 billion annuity portfolio from Aegon UK and a £2.5 billion bulk annuity portfolio from Metlife Assurance Limited. The company also acquired the pension risk transfer specialist Paternoster, which added a £3 billion portfolio to its holdings. These achievements solidify Rothesay's position as a leader in the sector, with cumulative pension liabilities surpassing £10 billion, covering pensions for more than 150,000 individuals.

The governance process at Rothesay is robust and agile, allowing for fast decision-making while ensuring proper conduct throughout operations. The company is committed to transitioning its investment portfolio to Net Zero greenhouse gas emissions by 2050 and has published its first Environmental, Social, and Governance (ESG) report. Collaborating with peers, Rothesay aims to enhance protection for pension schemes and their beneficiaries.

Founded and authorised by the Financial Services Authority, Rothesay's first transaction was a £700 million buy-out of the Rank Pension Plan. The company continues to grow and innovate within the pensions insurance market, demonstrating its dedication to securing the financial futures of its policyholders.