Brookfield Completes £2.4B Just Group Deal, Lifts Insurance AUM to $180B
Brookfield Wealth Solutions completed its £2.4 billion acquisition of Just Group, adding 700,000 customers and £30 billion in pension savings to its portfolio. The deal boosts Brookfield’s global insurance AUM to about $180 billion and enhances its U.K. pension risk transfer capabilities.
1. Acquisition Details
Brookfield Wealth Solutions has finalized its £2.4 billion purchase of Just Group, a leading provider of retirement services in the U.K. pension risk transfer and individual annuity markets.
2. Strategic Impact
The acquisition increases Brookfield’s global insurance assets under management to approximately $180 billion and significantly expands its presence in the high-growth U.K. pension risk transfer sector projected to see £40–50 billion of liabilities transfer annually.
3. Just Group Profile
Just Group serves over 700,000 policyholders and manages £30 billion in pension assets, positioning Brookfield to tap into growing annuity demand across the U.K. market.
4. Governance and Approvals
The transaction received approval from the Prudential Regulation Authority and the Financial Conduct Authority, and Sir Nigel Wilson, former CEO of Legal & General, has been appointed Independent Chair of Just Group.