Partnership set for IPO

Jenna Towler
clock

Partnership Assurance is to float on the London Stock Exchange.

The enhanced annuity provider said it would proceed with an initial public offering (IPO) as the market for non-standard annuities continues to grow rapidly. For the year ended 31 December 2012, the group generated operating profit of £112m, a 56% per annum increase since 2010. Partnership expects to get about £105m from the IPO. The company said it would not receive the proceeds from the sale of existing ordinary shares by the selling shareholders as part of the IPO. The principal uses of the net proceeds of the IPO received by Partnership are for the repayment in full of:     ◦    ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Market turbulance, de-risking for retirement and the crucial role of annuities

Market turbulance, de-risking for retirement and the crucial role of annuities

Annuities are now back to pre-2008 credit crunch levels

William Burrows
clock 17 April 2026 • 5 min read
Why annuities are back on advisers' agendas

Why annuities are back on advisers' agendas

'Another factor bringing annuities back into focus is the evolving tax landscape'

Ahmed Bawa
clock 24 March 2026 • 4 min read
Just guaranteed income for life sales soar amid adviser demand

Just guaranteed income for life sales soar amid adviser demand

Reports IFRS loss before tax of £118m for 2025

Jen Frost
clock 27 February 2026 • 2 min read