Slaughter and May is advising Reinet, CVC, ADIA and HPS on the sale of Pension Insurance Corporation to Athora

Slaughter and May is advising Reinet Investments SCA, CVC Capital Partners, HPS Investment Partners and a subsidiary of the Abu Dhabi Investment Authority on the sale of their shareholdings in Pension Insurance Corporation Limited (“PIC”) to Athora Holding UK Limited, a subsidiary of Athora Holding Ltd.

The agreed transaction mechanism provides for consideration payable for 100 per cent of the fully diluted share capital of PIC of approximately GBP 5.7 billion, as at the date of this announcement.

The transaction, which is subject to approval by the Prudential Regulation Authority, is expected to close in early Q1 2026.