Insurance giant Zurich has said that it remains fully committed to supporting financial advisers and their clients despite rumours its looking to offload its platform to Aegon.
UK newspaper the Sunday Times reported that Zurich is in negotiations with Aegon and is looking at a target price of £50m ($61.3m, €55m).
A Zurich spokesperson said in a statement: “We regularly work with third parties to review the makeup of our business to ensure it fits with our strategy, and that individual parts are best structured to serve their respective customers and our distribution partners.
“We do not comment on the specifics of these reviews or speculation around them. We remain fully committed to supporting financial advisers and their clients.”
Aegon told International Adviser that it does not “comment on market speculation”.
The Zurich intermediary platform had assets of £10.2bn at the end of March 2019.
Aileen Mathieson, who headed up the Zurich Wealth division that operates the platform, departed the firm in April 2019 to join Standard Life Aberdeen as head of strategic platform solutions.