Reliance seeks further acquisitions
UK - Reliance Mutual is seeking further blocks of life assurance and pensions business following its acquisition of 23,500 policies from Family Assurance.
The acquisition of £260m in funds under management from Family was the latest in a line of similar deals, which have seen the Kent-based company buy parts of Templeton and Time Assurance and the overall acquisition of Criterion Life Assurance.
Chief executive Les Etheridge said he had a clear strategy on how Reliance Mutual would be positioned during the next phase of its development. This included acquiring small to medium-sized blocks of business.
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