Law360, London (August 10, 2020, 5:42 PM BST) -- A London judge has cleared English insurer Rothesay to transfer 114 million ($149 million) worth of insurance policies to an Irish insurer to ensure the plans are administered after the U.K.'s transition out of the European Union becomes finalized.

High Court Judge Richard Snowden signed off on Rothesay Life PLC's plans to shift 400 life insurance policies, or annuities, to the Dublin-based Monument Insurance DAC under the Financial Services and Markets Act 2000.

Rothesay and Monument signed the agreement in 2019 over concerns the English insurer would no longer be able to manage the plans after Brexit. The U.K. left the...

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Rothesay Cleared To Shift EU Policies To Dublin After Brexit - Law360