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UK life insurer, Royal London, has entered the market for corporate pension scheme insurance with a so-called bulk annuity deal for Royal Liver UK pension scheme.
The insurer said in a statement it had transacted a bulk annuity deal with the trustees of the Royal London Group pension scheme, ahead of "intended participation" in the booming bulk annuity market.
Royal London reported a 19% rise in 2023 operating profit before tax to £249m ($318.89m).