Rothesay Life completes of a full risk transfer with Radius Systems

6th April 2011

Rothesay Life is pleased to announce completion of a "full risk transfer" transaction with the trustees of the pension fund sponsored by Radius Systems, the leading manufacturers of pipes and related products.

In March 2011, the Radius Systems pension trustees transferred their entire pension liabilities to a Rothesaysponsored pension trust which has Law Debenture as the sole trustee.

The transaction is an extension of the design features developed for our transaction with Rank Group, but included a number of further innovative traits.The transaction was preceded by the execution of a bulk annuity buy-in during August 2010. The buy-in enabled Radius Systems to control the cost of completing full settlement in advance of closure to future accrual which was completed in October 2010.

This transaction is the first for Rothesay Life below £100m and demonstrates our long-term commitment to schemes and corporate sponsors exhibiting a clear desire to implement a transaction, by applying structures developed on larger schemes across the market.

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