Lloyds to sell £6bn of Scottish Widows bulk annuities to Rothesay

Lloyds Banking group will sell a £6bn bulk annuity portfolio from its Scottish Widows business to pensions insurance specialist Rothesay. The companies said in a joint statement that the portfolio covers the pension benefits of around 42,000 people and that the deal would allow Lloyds to focus on growing its “strategically important lines of business”. [...]