Quilter Life Assurance sold to ReAssure for £425m
'Quilter an advice-led business'
Paul Feeney: “The Quilter board is currently minded to return a meaningful proportion of the net surplus proceeds arising from the transaction to shareholders."
Closed book of unit-linked policies was once the core of Quilter's UK business
Quilter has sold its heritage life and pensions devision, Old Mutual Wealth Life Assurance Ltd, to ReAssure for £425m. Quilter said the sale, which had an "attractive valuation", would solidify its position as an advice-led and modern wealth manager. Quilter Life Assurance, a closed book of unit-linked policies, was once the core of Quilter's UK business. It was made up of pensions, investment and savings and protections products, with both retail and institutional offerings. Quilter said...
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