Offshore investment firm RL360° Group has acquired Scottish Widow’s offshore business Clerical Medial International. In December 2014 it was reported Scottish Widows had put the business up for sale and several parties had expressed an interest in the Isle Man-based business, which manages around £5 billion of assets and 24,000… – Continue reading
State-backed bank Lloyds has sold offshore life insurer Clerical Medical to investment manager RL360 for an undisclosed sum, Lloyds and RL360 said on Thursday. Clerical Medical’s policies were closed to new business in March 2012. The firm is estimated to have a value of 200 million pounds. “The sale reflects… – Continue reading
Legal & General (L&G) has sold its offshore business to Canada Life. Legal & General International (Ireland) currently has over 4,000 UK offshore bond polices and assets under administration of £2.5 billion. L&G is the latest UK life company to sell its offshore business. In November 2013 Royal London sold… – Continue reading
Scottish Widows is considering the sale of offshore investment and tax planning business Clerical Medical International, the Financial Times reports. The Isle of Man-based business, acquired by Lloyds Banking Group as part of the HBOS deal in 2008, currently manages around £5bn in policyholder funds. The Isle of Man-based business,… – Continue reading
