1 st April 2021 8:42 am Quilter has agreed to sell its international business to life assurance company Utmost Group for £483m as it looks to further grow its UK wealth management arm. The deal, which is subject to regulatory approval, will add £22bn of assets under administration and 90,000 policies to Utmost International. The two companies will continue to work together and a range of “flexible” international life assurance products will be available on the Quilter platform. Quilter says the sale will simplify its business and allow the group to focus on it higher growth UK wealth management business. From the beginning of next year, Quilter will target annualised net client cashflow growth of at least 6 per cent of opening assets under management and administration in the medium term. It was previously aiming for 5 per cent.