Utmost Group to acquire Quilter International for £483m

Utmost Group has agreed to acquire Quilter International, subject to regulatory and other approvals. Quilter will receive approximately £483m in cash assuming completion on 31 December 2021. Quilter International will become a part of Utmost International, the international life assurance business of Utmost Group. The deal adds £22bn of assets under administration and 90,000 policies to Utmost International. Utmost International will have £52bn of combined assets under administration, 220,000 policies and would have written over £330m APE of new business in 2020, making it "a le...