Core Viewpoint - Brookfield Wealth Solutions is entering the UK insurance market to provide bulk annuity solutions for pension schemes, following regulatory approvals from the PRA and FCA [1][4]. Group 1: Market Opportunity - The UK pension buyout market is expected to see over £500 billion in demand over the next decade, presenting a significant growth opportunity for Brookfield Wealth Solutions [2]. - Brookfield Wealth Solutions aims to leverage its strong North American operations and capital to establish a presence in the UK market [2][3]. Group 2: Company Background - Brookfield Wealth Solutions was spun out of Brookfield Corporation in June 2021 and is focused on securing financial futures through retirement services and wealth protection products [3][5]. - The company has over $140 billion in total assets and is committed to providing long-term financial security for its policyholders [4]. Group 3: Operational Details - Brookfield Wealth Solutions is expected to begin operations in the UK later in the first quarter of 2025, pending final regulatory approvals, and will operate under the Blumont Annuity UK brand [4][6]. - Brookfield already has a significant presence in the UK, managing over £63 billion in assets across various sectors, including infrastructure and renewable power [3].
Brookfield Wealth Solutions Launches in the United Kingdom