Aviva considers sell-off of UK annuity assets

The FTSE 100 insurance group is exploring whether to raise funds by offloading some of its back book of annuities, according to the Daily Telegraph. Potential bidders could include industry consolidators such as Pension Corporation or Rothesay Life, part of Goldman Sachs. Although the plans are believed to be at an early stage, it is understood the company is only prepared to sell some of the annuity assets, rather than the entire portfolio, which is worth several billion pounds, insiders say. The plan is one of many under consideration but according to analysts would be a cost-eff...