Prudential £11B Transfer Deal Unjust, Policyholders Tell Court

By Lucia Osborne-Crowley (November 9, 2021, 1:47 PM GMT) -- Policyholders with Prudential urged a court on Tuesday to reject a deal that would see £11.2 billion ($15.2 billion) of annuity policies transferred to Rothesay Life, saying the transfer would leave their retirement payouts in the hands of a riskier insurer.

Prudential policyholders have told a High Court hearing about their objections to a proposed transfer of more than 365,000 annuity policies to Rothesay Life, which they say is a less secure insurer. (iStock) Several policyholders were given a chance to speak at a High Court hearing before Judge William Trower to express their objections to the proposed transfer of more...

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