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.
Latest stories
PTL bolsters Midlands presence with client director hire
PTL has appointed Karein Davie as a client director in its Birmingham office.
LDI activity rebounds in Q2 after subdued Q1; LIBOR to SONIA switching driving activity
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
Inflation sees first rise since November to 2.5%
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
Proportion of DB schemes targeting buyout trebles in past five years
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.
Most read
