Standard Life Taps CVC and Prudential for £2 Billion Pension Risk Transfer Push

Standard Life has launched "Standard Life PRT Solutions," a pension risk transfer venture — where a pension plan pays an insurer to take on its liabilities — backed by up to £2 billion ($2.72 billion) over five years. A consortium led by private equity firm CVC and Prudential Financial will fund the vehicle, expanding Standard Life's capacity in the UK's competitive bulk annuity market. Individual allocations were not disclosed.