Apollo-Backed Athora to Move to UK From Bermuda After Buying PIC

An insurer backed by Apollo Global Management Inc. will move its headquarters to the UK from Bermuda after its acquisition of a local pension provider makes Britain its biggest market.

Athora Holding Ltd. said Friday that it has completed the purchase of Britain’s Pension Insurance Corp. and will relocate by the end of next year, subject to regulatory approvals. The move will now mean that the Bank of England’s Prudential Regulation Authority will oversee Athora, the insurer said in a statement.