Reinet Investments Agrees to Sell Stake in Pension Insurance Corporation

Reinet Investments S.C.A. has announced the disposal of its 49.5% stake in Pension Insurance Corporation Group Limited (PICG) to Athora Holding UK Limited. This move is part of a larger transaction involving the sale of all shares in PICG, which also includes shares controlled by several global investment entities. The transaction is scheduled for completion in early 2026, pending regulatory approval.

The deal values the entirety of PICG's share capital at approximately GBP 5.7 billion, potentially increasing to GBP 5.9 billion with expected dividends. Reinet has invested around GBP 1.1 billion in PICG since its initial investment in 2012 and has received GBP 426 million in dividends to date.

Reinet plans to use the proceeds from the sale for ongoing investment activities. Additional announcements will follow once the transaction has regulatory clearance.