History

Rothesay Life was established in 2007 by The Goldman Sachs Group, Inc. as a UK FSA authorised and regulated insurance company focused primarily on the UK defined benefit pension risk transfer market. The company has executed several innovative and unique transactions in the UK market, and is also active in other European markets.

On 11 January 2011, with FSA approval, Paternoster UK Limited became a wholly owned subsidiary of The Goldman Sachs Group, Inc. Further to this change of ownership (which was approved by the Financial Services Authority, the statutory regulator of financial services in the UK) both Rothesay Life (also a wholly owned subsidiary of Goldman Sachs) and Paternoster agreed to begin the process for transferring Paternoster’s long term business to Rothesay Life. The transfer was achieved through a Scheme of Transfer under Part VII of the Financial Services and Markets Act 2000 which was submitted to the High Court for its approval on 8 December 2011 and became effective on 14 December 2011.

The group has grown significantly since executing the first transaction in 2008, currently insuring approximately 110,000 lives with total liabilities of over £9billion.

The Goldman Sachs Group, Inc. is committed to the growth of the Rothesay Life business and providing any capital required for future transactions. For more information on The Goldman Sachs Group, Inc. please visit the website via the link below.