David Kneeshaw responds to rumours over potential new owner for IFGL

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David Kneeshaw responds to rumours over potential new owner for IFGL

Group chief executive at International Financial Group David Kneeshaw has responded to rumours circulating last week that IFGL is for sale.

The parent company of RL360, Friends Provident International and Ardan International, was said to have received interest from a host of suitors including former Barclays chief executive Bob Diamond's Atlas Merchant Capital.

International Investment asked Kneeshaw (pictured) for his response to the rumours that were circulating last week about IFGL and potential new owners.

He said: "We have always been very open with our strategic ambition, which is to grow, both organically and through further acquisitions.

"IFGL has a long-standing relationship with Evercore, who are our retained investment bankers. I am approached regularly with opportunities to acquire target companies or blocks of business, some of which we pursue and some we politely decline.

"Equally I am often approached by potential investors that want to share in the success that IFGL has had over the years and will continue to have.

Kneeshaw added: "Therefore I often have conversations with interested parties and have been doing so for many years. I couldn't possibly comment on individual pieces of gossip.

"I'd like to stress that we continue to have a very strong and supportive relationship with Vitruvian, who helped us with our management led buyout from Royal London in 2013."

IFGL is part-owned by the management team, supported by private equity firm Vitruvian Partners and by global insurance group Munich Re.

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I often have conversations with interested parties and have been doing so for many years."