The Toronto-based asset management giant has filed paperwork with the Bank of England’s Prudential Regulation Authority to establish a new insurer, Financial Times reported. (Financial Times)

Talking point: The venture comes as higher interest rates boost surpluses for corporate pension plans in the U.K. Brookfield was reportedly seeking a way to access the bulk annuities market last year, a type of insurance that involves a company offloading its pension plan liabilities to an insurer. Sources at the time said the firm was considering acquiring a company in the space. Brookfield now appears to be taking a different strategy, introducing a new insurer into the market. The firm did not immediately respond to The Logic’s request for comment.