Zurich has put its UK annuities business on the market, according to reports.
Interest in the £4bn business is already high as investors flood into the deal, drawn to possible cost savings made by merging funds and offsettings risks posed by increased life expectancy.
Synesis, a JP Morgan-backed life insurer, is thought to be the leading contender, with Prudential, Aviva and Aegon also in the running.
Goldman Sachs has also been mooted as a potential buyer after the recent formation of a life assurance business specifically to buy out pensions and annuities businesses.
