UK Insurance - Synesis Life first buyout market casualty

News

Synesis Life has become the first casualty of the recent expansion of companies in the UK bulk purchase annuity market, having failed to secure a deal in over two years of trading.

It is believed that rival player, Pension Corporation, is likely to take on the senior members of the Synesis team, though a spokesman for the company, headed by Edmund Truell, declined to comment on the reports.

Synesis was backed by three separate financial institutions, JP Morgan, Royal Bank of Scotland - which also

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