Brookfield considers move into UK pension market, Just Group in the frame - report
Just Group
139.40p
15:45 15/11/24
Brookfield, through its affiliate Brookfield Reinsurance, is reportedly weighing entering Britain's pension insurance industry and is open to an acquisition to bolster growth, with Just Group among the possible targets.
FTSE 250
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Life Insurance
5,457.72
15:44 15/11/24
Reuters cited three people familiar with the matter as saying that the company is scanning the market for potential deals to access the bulk annuities space, where possible targets could also include the likes of Pension Insurance Corporation.
It was understood that deliberations are at an early stage, and there is no certainty that Brookfield will proceed with the move or a transaction.
Brookfield spun off its reinsurance arm in 2021 as a separately listed entity. However, the unit contracts administration and management services from its former parent.
At 0950 BST, Just Group shares were up 4.3% at 73p.