L&G partners with Lifetri and enter Dutch buyout market

UK insurance company Legal & General (L&G) has partnered with Dutch insurer Lifetri, owned by private equity firm Sixth Street, to co-finance future buyout deals involving pension funds reluctant to transition to the new defined contribution (DC) system.  

UK insurance company Legal & General (L&G) has partnered with Dutch insurer Lifetri, owned by private equity firm Sixth Street, to co-finance future buyout deals involving pension funds reluctant to transition to the new defined contribution (DC) system.  

In a joint press release, the firms announced that L&G will support Lifetri’s expansion in the Dutch pension risk transfer (PRT) market for defined benefit (DB) arrangements. 

Andrew Kail, CEO of Legal & General Retirement Institutional, anticipates a significant number of pension funds seeking insurance solutions in the coming years to aid the transition to insurance-based, capital-backed guarantees for members. Although few buyout deals have been completed in the Netherlands so far, Lifetri CEO Philippe Wits confirmed that L&G, now a minority shareholder, would participate in all deals in the current pipeline. 

Wits emphasized the long-term nature of the partnership, with L&G having the option to take part in any future buyout deals. 

Read more: https://www.ipe.com/news/landg-to-enter-dutch-buyout-market-with-lifetri-partnership/10065654.article