Rothesay Life acquires long dated, low cost pension liabilities from defined benefit pension schemes or annuity books from other insurers and invests in assets with the goal of earning a return over the duration of the annuity payments as they come due. The business is underpinned by low-risk, highly capital efficient model incorporating low risk investment, robust and secure collateral arrangements and comprehensive risk management. Rothesay Life invests in the highest quality talent from across the industry and actively manages its culture brand and reputation.Rothesay Life is regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA). Capital requirements are determined under the Solvency II Directive which is supervised by the PRA