Buyout vehicle Resolution has bought Axa Life for 2.75bn in a deal part-funded by a rights issue of approximately £2.05bn.
The deal comprises £2.25bn in cash and up to £500m in deferred consideration notes to be issued by Axa, with investors agreeing to sub-underwrite 52% of the cash call. It will be financed by a rights...
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.