LCCG subsidiary buys offshore bond portfolio from Athora

Pedro Gonçalves
LCCG subsidiary buys offshore bond portfolio from Athora

Utmost Ireland DAC has concluded the purchase of the entire offshore bond portfolio of Athora Ireland from Athora Holding. The portfolio comprises about £3bn of assets under management for approximately 7,000 UK-based customers.

"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," Paul Thompson, group chief Executive of LCCG, said. Utmost Ireland DAC is a subsidiary of 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.  
As the deal is completed, offshore bond policyholders and their advisers should now contact Utmost Customer Service with any questions or queries.