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It's a very interesting judgement (https://www.bailii.org/ew/cases/EWHC/Ch/2019/2245.html) and demonstrates that judges are not simply nodding things through.

There's a rather amusing observation (item 163 in the judgement) that PAC seemed almost to be dissing itself in order to argue in favour of the transfer of policies.

I was marginally involved in another similar (though non-annuity) case as a policyholder -- in that case the transfer was approved -- and I was extremely impressed by the care taken by counsel in presenting the case and the judge in reaching his decision.

I wonder if sales literature for annuities will now start to explicitly spell out the possibility of a "Part VII" (Financial Services and Markets Act 2000) transfer?