Sidley is acting as counsel for Athora Holding Ltd. (Athora), a leading European savings and retirement services provider, in its approximately £5.7 billion acquisition of Pension Insurance Corporation Group Limited (PICG), a specialist insurer of UK defined benefit pension schemes.
Athora, which is supported by Apollo Global Management and Athene Holdings, has approximately €76 billion in assets under management and administration (on behalf of 2.8 million policyholders) and when combined with PICG will have approximately €137 billion in assets under management and administration. Following completion, which is expected in early 2026, PICG will become Athora’s first UK subsidiary and serve as its UK insurance platform, complementing its presence in the Netherlands, Belgium, Italy, and Germany.
The cross-practice, cross-jurisdictional Sidley team was led by partners Perry Shwachman, Ramy Wahbeh, and Sean Carney and counsel Florian Kamp, with support from associates Stanley Amoah, Andrew Lecky, Silvia Maglio, and JD Heinz. Also serving on the Athora team were partners Paige Levitt, James Phythian-Adams, Jason Menzies, Matthew Shankland, Alastair Hopwood, James Wood, and Patrick Harrison, counsel Ed Perry, and associate Jacqueline Noel.