(Reuters) -Athora Holding is in talks to buy Pension Insurance Corporation in a deal that could value the UK-based specialist insurer at up to 5 billion pounds ($6.75 billion), Sky News reported on
Athora in Negotiations to Acquire UK Insurer Pension Insurance Corporation
(Reuters) -Athora Holding is in talks to buy Pension Insurance Corporation in a deal that could value the UK-based specialist insurer at up to 5 billion pounds ($6.75 billion), Sky News reported on Friday.
Pricing, structure and other details about the potential deal remain unclear, the report said.
Apollo Global Management-backed Athora is a European savings and retirement services group.
Reuters could not independently confirm the news. Apollo, PIC and Athora declined to comment.
Sky News in late 2023 reported Apollo had explored a bid for PIC.
In May last year, Athora abandoned plans to buy a German portfolio of run-off life insurance policies from French insurer AXA.
PIC is owned by a consortium of shareholders including Luxembourg-based Reinet Investments and private equity firm CVC Capital Partners.
($1 = 0.7406 pounds)
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Devika Syamnath and Sriraj Kalluvila)
