The Canadian insurance company Brookfield Wealth Solutions (BWS), through its subsidiary Bidco, offered to acquire the assets of the British Just Group PLC for 2.4 billion pounds ($3.18 billion). This is reported in the BWS press release.
Under the terms of the deal, Just Group shareholders will receive 220 pence per share (75% higher than the closing price on July 30, 2025).
BWS, which was spun off from the structure of Brookfield Corp. In 2021, it plans to expand beyond North America by integrating Just Group with the newly established British Blumont Annuity Company, which will create a consolidated insurance company with assets worth more than 105 billion pounds.
The deal is in line with BWS' strategy to enter the UK annuity and pension insurance market. The combined company will retain the Just brand and headquarters in London and will seek to expand its position in the pension risk transfer and defined contribution markets, which may exceed 1 trillion and 1.3 trillion pounds, respectively.
BWS also plans to leverage Brookfield Asset Management's expertise in alternative investments that combine with the long-term commitments of annuity companies.
From the perspective of BWS management, the acquisition of Just will strengthen the company's position in the UK, which is a key region for BWS given its status as one of the world's leading pension markets combined with attractive investment opportunities.
Brookfield Wealth Solutions Ltd. is a Canadian insurance company in the field of annuity insurance, property insurance and accident insurance. The annuities segment offers retail and institutional annuities, including fixed index, fixed rate, immediate lump sum premium and variable annuities, as well as pension risk transfer. The P&C segment provides accident insurance services and the life insurance segment offers universal life insurance products. The headquarters is located in Pembroke, Bermuda.
Just Group is a British pension insurance company. The headquarters is located in London (England).
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