Standard Life reinsures £6.7bn of annuity liabilities
Standard Life has reinsured £6.7bn of UK immediate annuity liabilities, more than half of its total £12bn to Canada Life International Re, a wholly-owned subsidiary of Great-West Lifeco.
Standard Life is to acquire the existing issued share capital of flexible benefits and online reward technology provider Vebnet in a cash offer deal worth about £24.2m.