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L&G's 2025 Global PRT Monitor
The Global PRT Market is set for a £1 trillion boom, with the UK and US leading the charge.
The report predicts that the global PRT market is on track for a transformative period, with up to £1 trillion in pension liabilities expected to be secured by insurers across global markets. This marks a significant opportunity for the sector to drive global economic growth by supporting companies to de-risk their balance sheets and focus on their core businesses, while delivering long-term financial security to millions of pension plan participants and channelling investment into vital assets like housing and infrastructure.
Key findings on the global PRT market opportunity from the report include:
- Across the next decade up to £1 trillion in pension liabilities could be secured, comprising up to £0.5 trillion in the UK, £0.4 trillion in the US and £0.1 trillion in Canada, with further growth potential in other new markets.
- Total UK market volumes for 2025 are expected to be consistent with industry projections of £40-50 billion for the third year in a row.
- The UK PRT market recorded £47.8 billion in transactions in 2024, its second-largest year on record.
- Similarly, the US market saw its second largest year ever in 2024 with transaction volumes totalling $51.8 billion. L&G estimates US volumes will be in the range of $35-45 billion in 2025.
- Canada posted a record year in 2024 with transaction volumes of over CAD $11 billion, while the Netherlands and Ireland also show strong growth potential
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