David Richardson

Relocation plans come as Brookfield deal to buy insurer formally completes

Drop driven by lower new business margins on lower sales

New board will look at DB policy, bulk purchase annuities and investment

Insurer said the drop was due to a ‘lack of large deals’ but expects ‘increased market opportunity’ in 2026

Results show firm’s DB business had written or is exclusive on £0.4bn, with ‘strong pipeline’ of transactions

Insurer says it completed a record 129 de-risking transactions throughout the year

Organisation said it has seen ‘strong momentum’ during the first half of the year

Group now accounts for one third of all de-risking transactions in the market

Insurer’s results show sharp growth in underlying operating profit

Insurer reveals it completed 80 risk reduction deals in 2023 which totalled £3.4bn