Brookfield Wealth Solutions announced its imminent entry into the UK pension insurance market, subject to final regulatory approvals. The company expects to commence operations later this quarter under the brand Blumont Annuity UK.
This move marks the arrival of a new authorized entrant into the UK pension insurance market, the first such dedicated Pension Risk Transfer (PRT) license granted since 2007. The UK pension market is projected to see over $500 billion in pension scheme risks transferred to insurers over the next decade.
Brookfield Wealth Solutions aims to leverage Brookfield's substantial financial resources and expertise to capitalize on this significant growth opportunity. This strategic expansion is a key step in diversifying its wealth solutions business internationally.
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