Quilter Life Assurance sold to ReAssure for £425m

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 it expects the growth profile of the firm to grow as a result of the sale because the life a...