(In seventh paragraph, corrects to embedded value from enterprise value)
LONDON, Aug 9 (Reuters) - Goldman Sachs has sold its remaining stake in British pensions insurance business Rothesay Life to a trio of existing investors including Singapore's sovereign wealth fund a decade after setting up the company.
Blackstone, Massachusetts Mutual Life Insurance Company and Singapore's GIC have agreed to buy out Goldman's 32.7 percent stake for an undisclosed sum.
GIC and Blackstone will become Rothesay's biggest shareholders and MassMutual will "substantially" increase its stake, Rothesay said, although it did not say how big their investments would be following the deal.
GIC and Blackstone had previously both owned 26.5 percent of the company, which has clients including the pensions schemes of British Airways, Holiday Inn-owner InterContinental Hotels and bingo hall operator Rank, while MassMutual held 6.5 percent.
Rothesay, a specialist pensions liabilities insurer, was founded in 2007 by Goldman and its assets under management have grown to 23.7 billion pounds as of the end of 2016, from 7.5 billion pounds in 2013.
Last year, it said that while its pretax profits fell to 328 million pounds from 347 million pounds in 2015, its new business volumes grew by 89 percent to 6.6 billion pounds.
A spokesman for the company said its 2016 results gave it an embedded value, the present value of the company's future profits plus the adjusted current value of its assets, of about 2.2 billion pounds. (Reporting by Ben Martin; editing by Simon Jessop)