Standard Life partners with Goldman Sachs, CVC in £2bn pension risk transfer push

Published Aug 20, 09:54 AM UTC

Standard Life, a FTSE 100 insurer, has formed a partnership with a consortium led by CVC, including Goldman Sachs and Prudential, to commit up to £2 billion over five years to the pension risk transfer (PRT) market. Standard Life will contribute £500 million from its excess cash and retain 51% voting control. The deal aims to provide the capital needed to take on large UK corporate pension schemes, allowing Standard Life to offer competitive pricing by leveraging the partners' high-yielding global investments. CEO Andy Briggs stated the partnership will offer trustees an alternative to secure member pensions. The move is part of a broader trend of tie-ups between insurers and private capital firms eyeing Britain's £1.3 trillion pension buyout sector, though regulators, including the Bank of England, have begun clamping down on funded reinsurance arrangements used in such deals.