Utmost Group today (3 September) reported a higher operating profit of £65m than in H1 2020 (£17m) which it said was "a result of an increase in product fees reflecting stronger market conditions as well as a disciplined approach to expenses". Over the period, Utmost wrote record new business of £1.3bn and saw assets under administration grow to £38.1bn (H1 2020: £35.3bn; FY 2020: £36.7m), "an increase of 4% from the start of the year reflecting strong new business volumes and favourable market performance". Annual Premium Equivalent was £133m in H1 2021 (H1 2020: £88m; FY 2020: £180m...
To continue reading this article...
Join International Investment
Signup and gain exclusive members-only insights
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
