Athora has agreed to acquire Pension Insurance Corporation Group (PICG), marking its entry into the UK market and creating one of Europe's largest insured savings and retirement services firms.

Target Information

Pension Insurance Corporation Group (PICG) will operate as Athora’s insurance subsidiary in the UK under the Pension Insurance Corporation (PIC) and Penguin brands. The acquisition allows PICG increased access to long-term growth capital and enhanced expertise in asset origination, positioned within the broader framework of the Athora Group.

Athora is a prominent player in the European savings and retirement services industry, managing and administering EUR 76 billion in assets. It serves around 2.8 million policyholders across Europe. By acquiring PICG, Athora marks its strategic entry into the UK market, creating one of the largest insured savings and retirement service providers in Europe, complementing its existing subsidiaries in the Netherlands, Italy, Belgium, and Germany.

Industry Overview in the UK

The UK savings and retirement services market has undergone significant transformations over the past decade, driven by regulatory changes and evolving consumer needs. Recent shift