Europe’s pension problem spurs return of veteran investors
British pensions specialist Clive Cowdery has raised $2 billion in commitments from investors for a new fund to buy up life insurance policies from companies struggling to make enough money to cover long-term payouts, sources told Reuters.
The fund is one of a series of new ventures designed to capitalize on the difficulty life insurers and company pension schemes face in generating the returns required in an environment of low interest rates and tougher capital rules.
Besides Cowdery’s fund, the newly formed European Insurance Consolidation Group (EICG) is also looking for life insurance deals while pensions veteran Edi Truell and fund Clara Pensions both plan to take on defined benefit schemes from British firms.
Read More: Reuters
