WTW in discussions to purchase Cushon from NatWest

Willis Towers Watson (WTW) is successful discussions regarding the imaginable acquisition of Cushon, the workplace status schemes level presently owned by NatWest Group, reported Sky News.

The acquisition talks person progressed pursuing an auction process that attracted involvement from respective companies successful the sector, the study said.

The fiscal presumption of the imaginable transaction stay unclear astatine this stage.

The latest information from NatWest indicates that Cushon holds astir £3.7bn (£4.89bn) successful managed assets.

If an statement is reached, Cushon could beryllium valued astatine much than £150m, reported Reuters, citing sources.

However, sources noted that determination is inactive a accidental that nary statement volition beryllium finalised.

NatWest became the bulk proprietor of Cushon successful June 2023 aft acquiring a controlling involvement for £144m.

At that time, Cushon's absorption retained a 15% involvement successful the company.

Cushon delivers workplace pension and savings solutions for implicit 650,000 members affiliated with much than 21,000 employers.

According to Sky News, immoderate divestment would bespeak NatWest main Paul Thwaite’s purpose to absorption the group’s attraction connected cardinal objectives pursuing the completion of its modulation retired of payer ownership earlier this year.

Among these objectives are simplifying operations crossed the slope and much progressive equilibrium expanse and hazard management.

Cushon’s merchandise scope includes workplace pension plans and assorted Individual Savings Accounts (ISAs) specified arsenic Junior ISAs, Lifetime ISAs and General Investment Accounts.

When asked astir the ongoing talks, a spokesperson from NatWest was quoted by Reuters arsenic saying: "Our absorption remains connected delivering for our customers.”

WTW has not provided immoderate remark regarding the negotiations, reported the quality agency.

"WTW successful discussions to acquisition Cushon from NatWest" was primitively created and published by Life Insurance International, a GlobalData owned brand.

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