The deal offers longevity protection to Rothesay Life for a proportion of its in-force bulk annuity business; encompassing more than 100 individual pension schemes and marking the seventh such deal between the two companies.
Pacific Life Re annuity transactions head Andy McAleese said: "We are very pleased with the successful completion of these latest longevity transactions which mark a further expansion of our long-standing relationship with Rothesay Life.
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"Over recent years, Rothesay Life has constantly been at the forefront of pension scheme de-risking and we are delighted to have supported them with these transactions."
Rothesay Life managing director Tom Pearce said: "These transactions further demonstrate our commitment to a low risk strategy and the importance of strong long-term relationships such as that with Pacific Life Re."
Pacific Life Re has reinsured over £11bn of pension and annuity liabilities, helping a number of insurers and pension schemes reduce their exposure to longevity risk.
Founded in 2007, Rothesay Life offers regulated insurance solutions in the UK market for pensions de-risking, with over £15bn of insurance contracts.
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