The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and differing "capital management policies".
In a court judgment issued on Friday (16 August), Justice Snowden declined the request to approve a Part VII transfer, noting Rothesay Life was a "relatively new entrant" and "does not have the same capital...
All managers will move to Charles Stanley
£105,000 worse off
'Gap between value and price as wide as I have ever seen'
Gender bias effects
Will grow network by offering a bespoke service
Basic rate taxpayers better off
Despite relevant information supplied
Co-produced with PFS