BNT · Brookfield Wealth Solutions Ltd.

Brookfield Wealth Solutions (BWS) has successfully completed its acquisition of Just Group Plc for £2.4 billion ($3.2 billion), marking a significant expansion of its international operations. The transaction, which received approval from both the Prudential Regulation Authority and the Financial Conduct Authority, positions BWS to capitalize on the high-growth U.K. pension risk transfer market, where projections estimate £40-50 billion of pension liabilities will transfer to insurers annually in the coming years. Just Group, a leading provider in the U.K. pension risk transfer and individual annuity markets, brings over 700,000 customers and £30 billion in managed pension savings to the BWS portfolio. The acquisition increases BWS's global insurance assets under management to approximately $180 billion. Sachin Shah, CEO of Brookfield Wealth Solutions, emphasized the strategic fit, noting that BWS's permanent capital and investment capabilities will support Just's continued growth. As part of the transaction, Sir Nigel Wilson, former CEO of Legal & General Group Plc (2012-2024), has been appointed as Independent Chair of Just, bringing significant industry experience to the acquired entity.