FILE PHOTO: A view of the British capital's twin financial powerhouseLONDON - Brookfield, through its affiliate Brookfield Reinsurance, is weighing entering Britain's burgeoning pension insurance industry and is open to an acquisition to bolster growth, three people familiar with the matter told Reuters.
Private investors now oversee more than $900 billion of life and annuity assets in Western Europe and North America, according to an early 2022 report by McKinsey & Co. Bulk annuities have grown in popularity in the UK among pension scheme trustees, with close to 30 billion pounds of pension liabilities transferred to the insurance industry last year, according to data by broker Aon.Besides Just Group and Pension Insurance Corporation, existing players include Aviva, Legal & General, Phoenix Group and Rothesay Life. M&G re-entered the market this year.
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