Rothesay Life agrees to insure $2.48 billion for CAA pension plan

Posted On: Jul. 28, 2015 12:00 AM CST

U.K.-based pension insurer Rothesay Life Ltd. has agreed to insure £1.6 billion ($2.48 billion) of bulk annuities for United Kingdom’s Civil Aviation Authority pension plan, reported Reuters.

Rothesay said that the CAA contract was a buy-in, under which it will insure a portion of the overall pension plan.

Financial terms of the deal were not disclosed.