Brookfield Wealth announces license for Blumont to participate in risk transfer

Brookfield Wealth Solutions (BNT) announced the UK Prudential Regulatory Authority and Financial Conduct Authority have issued a license to Blumont Annuity to participate directly in the UK’s pension risk transfer market. The license was issued following the completion of an authorization process and confirmation the business has been fully capitalized. The entry for Brookfield Wealth Solutions will further extend Brookfield’s presence in the UK. Blumont Annuity UK plans to commence operations on March 25.