Sidley Advised Athora On £5.7 Billion Acquisition Of Pension Insurance Corporation Group Limited

Sidley Advised Athora On £5.7 Billion Acquisition Of Pension Insurance Corporation Group Limited

Global law firm Sidley advised Athora Holding Ltd. (“Athora”), a leading European savings and retirement services provider, on its approximately £5.7 billion acquisition of Pension Insurance Corporation Group Limited (“PICG”), a specialist insurer of UK defined benefit pension schemes.

Athora, supported by Apollo Global Management and Athene Holdings, manages approximately €76 billion in assets under management and administration for 2.8 million policyholders. Post-acquisition, Athora and PICG will collectively manage around €137 billion in assets. The transaction is expected to be completed in early 2026, upon which PICG will become Athora’s first UK subsidiary, strengthening its footprint in the UK insurance market, and complementing its operations in the Netherlands, Belgium, Italy, and Germany.

The cross-practice, cross-jurisdictional Sidley team was led by Perry Shwachman (Partner), Ramy Wahbeh (Partner), and Sean Carney (Partner), with Florian Kamp (Counsel) providing key support. The team also included Stanley Amoah (Associate), Andrew Lecky (Associate), Silvia Maglio (Associate), and JD Heinz (Associate). Additional support was provided by Paige Levitt (Partner), James Phythian-Adams (Partner), Jason Menzies (Partner), Matthew Shankland (Partner), Alastair Hopwood (Partner), James Wood (Partner), Patrick Harrison (Partner), Ed Perry (Counsel), and Jacqueline Noel (Associate).

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