View more on these topics

Key Retirement takes majority stake in fixed-term annuity provider Primetime

Key Retirement Solutions has taken a majority stake in fixed-term annuity provider Primetime Retirement.

Backed by private equity firm Phoenix, Key is primarily focused on the equity release market.

The firms would not disclosed the commercial terms of the agreement or the precise stake taken by Key, although it is understood to be variable based on performance and other factors.

Primetime will move its sales unit from Bristol to Key’s offices in Preston. Seven sales staff have opted to take redundancy following the move. 

The firms say the tie-up will allow Primetime to develop more flexible annuity products post-Budget. 

Primetime chief executive Kim Lerche-Thomsen says: “This deal represents a significant forward step in the development of our business. Key Group is an exciting and successful brand to be involved with and it will help launch our products to a new audience of advisers and consumers.

“The retirement income and retirement lending markets are set to become more closely entwined as a result of the expected pension changes being introduced next year. The combined strength of our respective brands, plus our heritage in pioneering new product solutions for clients and their advisers, will give us a unique competitive edge.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm