UK - Britannic Group today dismissed as speculation talk that Dutch insurer Aegon is eyeing the firm as a possible buyer.
Recent reports have identified Aegon as a potential bidder for Britannic, which last week saw operating profits fall to £145.4m compared to £174.5m in 2000.
Last week, Britannic hinted that it would not dismiss selling the beleaguered financial services group, saying: “[The] markets in which we operate are changing rapidly, and we believe out businesses need greater scale in order to exploit opportunities to the full. Consequently, we are alert to appropriate opportunities to achieve the necessary scale for the group.”
A source at Britannic said that the firm may also be looking to merge or form strategic partnerships as other options.
By Madhu Kalia
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers