Overview

• Athora, backed by Apollo Global Management, and PIC have signed an agreement valuing the specialist insurer at £5.7 billion.
• Reinet has confirmed it is in talks to sell its 49.5 percent stake in Pension Insurance Corporation.
• The combined group will manage around €130 billion in assets and support pensions for more than three million people across Europe.
• The transaction will give PIC single ownership for the first time in its 20-year history.
• Enhanced scale will boost PIC’s capacity to invest in UK housing and infrastructure, including a joint venture to deliver 3,000 energy-efficient homes.