UK - Pension Insurance Corporation (PIC), a UK provider of pension buy-ins and buy-outs, is in negotiations with a Luxembourg investment fund over a £400m capital injection.
In a statement, the Reinet said the exclusive talks would likely involve a "re-organisation of [PIC's] capital structure," resulting in the fund becoming a principal shareholder.
Sir Mark Weinberg, chairman of PIC said: "As a stable long-term investor, we believe that the Reinet proposal will be attractive for the current and future customers of Pension Insurance Corporation."
He added that the investment would "augment" its existing capital resources, allowing the company to maintain a market-leading position in what it believed was a rapidly-growing market for both pension insurance and risk transfer.
Reinet, with assets of €2.7bn, said the deal was "subject to the successful conclusion of these negotiations and to regulatory and other approvals."
It added: "Further information regarding the status and details of this potential investment will be communicated to our shareholders at the appropriate time."
PIC has £4bn in assets under management and has insured 50,000 scheme members to date. Its most recent deal, worth £203m, saw it assume responsibility for all current pensioners in the London Stock Exchange's scheme, as well as all future pensioners until 2016.