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Article Image - LCCG completes the acquisition of the offshore bond portfolio from Athora Holding Limited
Posted 10th January 2019

LCCG completes the acquisition of the offshore bond portfolio from Athora Holding Limited

Life Company Consolidation Group (LCCG) is pleased to announce that on 31 December 2018 its subsidiary, Utmost Ireland DAC, completed the purchase of the entirety of the offshore bond portfolio of Athora Ireland from Athora Holding Limited. The offshore bond portfolio comprises approximately £3 billion of assets under management for approximately 7,000 UK-based customers.

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LCCG completes the acquisition of the offshore bond portfolio from Athora Holding Limited
LCCG

LCCG completes the acquisition of the offshore bond portfolio from Athora Holding Limited; Portfolio to be re-opened to increments from end Q1 2019

Life Company Consolidation Group (LCCG) is pleased to announce that on 31 December 2018 its subsidiary, Utmost Ireland DAC, completed the purchase of the entirety of the offshore bond portfolio of Athora Ireland from Athora Holding Limited. The offshore bond portfolio comprises approximately £3 billion of assets under management for approximately 7,000 UK-based customers.

Offshore bond policyholders and their advisers can contact Utmost Customer Service with any questions or queries using the following details:

  • Customer Service Helpline: 0845 602 92 81
  • Customer Service Helpline (if ringing from outside the UK): +44 845-6029281
  • E-mail: wm@utmost.ie
  • Address: Utmost Ireland, Ashford House, Tara Street, Dublin 2, D02 VX67, Ireland

    Paul Thompson, Group Chief Executive of LCCG, said:

    “We are very pleased to have completed the transfer of the offshore bond portfolio from Athora and to welcome the customers, staff and distribution partners of Athora Ireland’s international investment bond business to our group. This portfolio will be re-opened to increments from the end of Q1 2019. It demonstrates our continued commitment to the international life market and further cements our position as a formidable force in the European market for specialist cross border wealth management solutions.”

    Please see further details of the transfer on the Utmost Wealth Solutions website here: https://utmostwealth.com/athora_portfoliotransfer/

    For further information, please contact:

    Anne Marie Shepherd, Head of Strategy and Corporate Affairs, LCCG on +44 203 861 4347 or annemarie.shepherd@lccgl.co.uk

    ___________________

    About LCCG

    LCCG is a specialist European life assurance group. Its principal brands are Utmost Wealth Solutions, Utmost Corporate Solutions and Reliance Life, which together are responsible for in aggregate £27bn of primarily unit-linked policyholder assets for more than 250,000 customers.

    About Utmost Wealth Solutions

    Utmost Wealth Solutions is a brand name used by a number of Utmost companies including Utmost Ireland DAC. Utmost Wealth Solutions provides international savings, protection and investment solutions into the UK, Continental Europe and Asia from Ireland and the Isle of Man. The core product comprises a flexible investment bond offering a wide range of investment options. It is designed for individual, corporate and trustee clients looking to invest for growth, income, estate planning and wealth transfer purposes.  

Categories: Finance, M&A


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