KKR eyes UK and European pension risk transfer tie-ups

Life Insurance International··Read original
2▲1 ▼0Impact / 5
Summary · why it matters

KKR is in talks with insurers across Europe to expand Global Atlantic's presence in the region's pension risk transfer market, the Financial Times reported. The US investment firm, which manages more than $700bn in assets, is considering partnership structures where it and an insurer would direct capital into investments sourced by KKR, rather than pursuing an outright purchase of a European insurer. Discussions in recent months have included some of the UK's largest insurers, with one executive saying KKR has big ambitions for the market. KKR passed on a chance to invest in a pension risk transfer venture being set up by Standard Life, partly because the business was viewed as too small, but could still enter through a similar joint venture structure. Global Atlantic does not have a major presence in Europe, unlike Apollo Global Management's insurer Athora, which completed a major UK pension risk transfer transaction last year.

Impact on assets 2

Aging Population▲ · 2 stocks
KKR & Co. Inc.
KKR
▲ PositiveCapitalrelevance

KKR is in talks to expand its pension risk transfer business in Europe, a growth opportunity.

Standard Life PLC
SDLF
± Mixedrelevance

KKR passed on investing in Standard Life's venture, but no direct impact on Standard Life.

Off-coverage companies 2

Global Atlantic Financial GroupPrivate▲ Positive
Capitalrelevance

Global Atlantic is KKR's insurance arm that would expand in Europe via the discussed tie-ups.

Athora HoldingPrivate± Mixed
Competitionrelevance

Athora is mentioned as a competitor that completed a major UK transaction, but no direct impact on Athora.

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