Prudential Seeks Green Light On Transfer After Appeal Win

By Lucia Osborne-Crowley (November 8, 2021, 6:39 PM GMT) -- Prudential Assurance urged a court on Monday to sign off on its plan to transfer £11.2 billion ($15.2 billion) of annuities to Rothesay Life, in its second attempt to get the scheme greenlighted after winning an appeal for another shot at the move.

Martin Moore QC, who represents both the Prudential Assurance Co. Ltd. and Rothesay Life PLC, told the High Court that it should sanction the deal — under which 370,000 policies representing £11.2 billion of annuities would be transferred to Rothesay — because the plan would not have any adverse effects on policyholders.

"The crucial question for the court in exercising...

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