Utmost Group will become the official owner of Quilter International at the end of November having received all necessary regulatory approvals, the company confirmed on Friday.
The sale was announced on 1 April 2021 and required to go-ahead from a number of watchdogs, including the:
- European Commission
- Isle of Man Financial Services Authority
- Central Bank of Ireland
- Dubai Financial Services Authority
- Insurance Authority of Hong Kong
- Monetary Authority of Singapore
The final sale price will be £481m ($645m, €563m).
Utmost Group said the transaction will add roughly £23bn of assets under administration and 90,000 policyholders to the group.
It will take total AUA to circa £61bn and policyholders to 580,000.
