Standard Life plc Partners with CVC, Prudential Financial, Others to Expand UK Pension Risk Transfer Business

02:53 AM EDT, 08/20/2026 (MT Newswires) -- Standard Life plc (SDLF.L) entered into a pension risk transfer partnership with CVC (CVC.AS), Prudential Financial, Goldman Sachs, MS&AD Insurance Group, and other investors to expand its business into larger defined benefit pension schemes in the UK. The collaboration will have an initial capital commitment of up to 2 billion pounds sterling over five years, including 500 million pounds from the British insurer, and the remainder provided by the consortium, according to a Thursday filing. The partnership, to be named Standard Life PRT Solutions, will operate through Standard Life's regulated insurance platform. The insurer will retain control of 51% of the shareholder voting rights. Completion is expected in the first half of 2027, subject to regulatory approvals.