Athora Eyes Landmark Acquisition of Pension Insurance Corporation
Deal News | Jun 20, 2025 | Re-Insurance News
Athora, a savings and retirement services firm associated with Apollo Global Management, is reportedly negotiating to acquire Pension Insurance Corporation (PIC), according to Sky News. The deal, if finalized, would be valued at £45 billion and marks a significant event in the industry. PIC has significant standing with a portfolio of £50.9 billion as of December 2024 and aids trustees in securing defined benefit pension schemes. Apollo, with around $751 billion in assets under management, established Athora to cater to European market insurance needs, and under this strategic move, aims to further expand its retirement services footprint.
Sectors
- Financial Services
- Insurance
- Retirement Services
Geography
- Europe – Athora operates primarily in the European market, indicating the geographical context of the potential acquisition.
- United Kingdom – Pension Insurance Corporation is based in the UK, making it a critical geography for the article.
Industry
- Financial Services – The article discusses a potential acquisition in the financial sector, specifically within the insurance and pension services industry.
- Insurance – Both Athora and PIC are involved in providing insurance and pension-related services, indicating this sector's relevance.
- Retirement Services – Athora's and PIC's primary business is related to insurance for retirement and pension products, underlining the importance of the retirement services industry.
Financials
- £45 billion – The reported potential acquisition value of PIC by Athora.
- $751 billion – The approximate assets under management by Apollo Global Management as of December 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Athora | Bidding Company | Company | Athora is a savings & retirement services firm in Europe, supported by Apollo Global Management. |
| Pension Insurance Corporation (PIC) | Target Company | Company | PIC specializes in providing insurance for defined benefit pension schemes. |
| Apollo Global Management | Parent Company of Athora | Company | Apollo is a global alternative asset manager providing strategic support to Athora. |
| Athene Holding Ltd. | Co-founder of Athora | Company | Athene Holding Ltd. is a retirement services company retaining minority interest in Athora. |