Acquisition
The firm’s buyout of CMI, which has now been renamed RL360 Life Insurance Company, from the Lloyds Banking Group finalised in December 2015 – creating a combined group of 300 staff, with 60,000 policies and $10bn (£7bn, €8.7bn) in assets under management.
CMI will now operate under the brand name RL360° Services, with the firm announcing a new website for policyholders and their advisers.
RL360°
The RL360° Group was formed in October 2013 to support the management led buyout of RL360 Insurance Company (RL360°) from the Royal London Group.
No changes to policies
David Kneeshaw, chief executive at RL360°, was keen to reassure customers that apart from the name change and new contact details, the terms and conditions of all policies would remain the same.
He said: “We are proud to bring CMI under the RL360° brand and equally proud to be retaining the history of CMI, which was one of the first international operations to be established by a UK life company back in 1987. As a combined group with a wealth of history and experience between us, we are stronger.
“While the rebrand has been a period of change for the business, I would like to make it clear that for RL360° Services policyholders there will be no changes to the terms and conditions of their policy as a result of the rebrand.”
