Apollo-backed Athora eyes £5bn deal for Pension Insurance Corporation

Apollo-backed Athora eyes £5bn deal for Pension Insurance Corporation

A takeover of the pension risk transfer specialist, which has insured liabilities at RSA and BAT, would represent a landmark deal in the industry, Sky News learns.

Apollo's Athora in talks to acquire PIC, reports Sky News

Athora, a savings & retirement services firm in Europe established by Apollo Global Management, is in talks to acquire Pension Insurance Corporation (PIC), according to Sky News. While spokespeople for Apollo and PIC reportedly declined to comment, Sky News noted that the £4–£5 billion deal, if completed, would represent a landmark moment in the industry, given PIC’s role in insuring liabilities for major firms such as RSA and BAT. PIC, which he…