Acquisition of PIC is a big vote of confidence in the UK pension risk transfer market
Pensions & benefits Pension risk transfer DB pensions Risk
It has been announced today that Athora Holdings Limited has agreed to acquire Pension Insurance Corporation Group Limited.
Commenting on the announcement, Charlie Finch, Partner at LCP, said:
“The acquisition of Pension Insurance Corporation is a big vote of confidence in the UK pension risk transfer market. In the past two years, four insurers have entered the market including earlier this year Brookfield setting up the first new insurer in the market for over 15 years.
"The seven other established insurers have all increased their appetite and capacity and market volumes have grown substantially with nearly £50bn being transferred from UK defined benefit pension schemes to insurers in each of the past two years. Athora state that they want to invest in PIC to support the growth in the UK pension risk transfer market.”
Further information on volumes in the UK PRT market can be found in LCP’s press release from March.
