Athora Holding Ltd. secures €3.5 billion of common equity commitments and receives regulatory approval for Pension Insurance Corporation Group Limited acquisition

06.03.2026

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LONDON, March 6, 2026 /PRNewswire/ -- Athora Holding Ltd. ("Athora" or "the Group"), a leading European savings and retirement services group, today announced that it has secured €3.5 billion of common equity commitments from a broad base of investors. The investors include sovereign wealth funds – such as Mubadala Investment Company ("Mubadala") and Abu Dhabi Investment Council (a fund wholly owned by Mubadala) which represent the largest new investors in this issuance. In addition, the issuance attracted pension funds, insurance companies and other cornerstone investors, including Apollo and Athene.

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Since inception in 2018, Athora has secured approximately €9 billion of common equity commitments from a high-quality, institutional investor base, operating with a long-time horizon that is well matched to long-term savings and retirement customer commitments. This is the largest amount of common equity raised by any European insurance company (or dedicated insurance vehicle) in the past decade.

The majority of the issuance proceeds will be used to fund the acquisition of Pension Insurance Corporation Group Limited ("PICG"), alongside remaining equity commitments from Athora's 2022 equity raise. The residual issuance proceeds will be used to fund broader long-term growth opportunities across the Group, including Pension Risk Transfers ("PRT") in the Netherlands.

Regulatory approval for Athora's acquisition of PICG, including its wholly owned subsidiary, Pension Insurance Corporation plc ("PIC") was received today, 6 March from the Prudential Regulation Authority ("PRA"), in consultation with the Financial Conduct Authority ("FCA"). In keeping with the transaction terms, Athora, PIC and the selling shareholders are now progressing towards expected completion on or around 27 March 2026.

Mike Wells, Group CEO of Athora said:

"I am delighted to announce the close of Athora's latest capital raise, bringing the total amount of common equity commitments raised by Athora to approximately €9 billion. Proceeds from the issuance will support our target funding structure for the PICG acquisition, which received regulatory approval today and is expected to complete on or around 27 March 2026.

I would like to thank Athora's existing and new investors for their continued support and endorsement of our strategic vision. The proceeds will enable Athora to deliver a scaled entry into the attractive UK pensions market, expand PIC's capacity to serve trustees seeking to secure pension risk transfer solutions, while providing the resources to support other ongoing growth initiatives across Europe."

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in any jurisdiction.

About Athora

Athora is a leading European savings and retirement services group. We concentrate on the large and attractive traditional life and pensions market, with an ambition to become a leading provider of guaranteed savings and pensions products in Europe. We serve the needs of individual and corporate customers who continue to demand products offering safety of returns. Athora's principal subsidiaries are Athora Netherlands N.V. (Amsterdam, Netherlands), Athora Belgium S.A. (Brussels, Belgium), Athora Lebensversicherung AG (Wiesbaden, Germany), Athora Italia S.p.A (Genoa and Milan, Italy) and Athora Life Re Ltd. (Bermuda). At 30 June 2025, Athora had AuMA of €76.4 billion, c.1,430 employees and approx. 2.8 million customers. For more information, please visit: www.athora.com LinkedIn: www.linkedin.com/company/athoragroup

Disclaimer

Certain information contained herein may be "forward-looking" in nature. Due to various risks and uncertainties, actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking information. As such, undue reliance should not be placed on such information. Forward-looking statements may be identified by the use of terminology including, but not limited to, "may," "will," "should," "expect," "anticipate," "target," "project," "estimate," "intend," "continue" or "believe" or the negatives thereof or other variations thereon or comparable terminology.

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