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The wealth management firm's board has already approved the deal. The acquisition is likely to generate net proceeds of £450 million for Quilter. In an announcement on Thursday, Quilter plc (LON: QLT) said it will offload its international business for £483 million to Utmost Group (specialist life assurance company) – a move that will help it expand focus on its wealth management segment in the United Kingdom. CEO Paul Feeney said on Thursday: “The sale allows us to focus on accelerating our growth and efficiency plans as well as further simplifying and focusing our business around its ...

1 st April 2021 8:20 am Good morning and welcome to your Morning Briefing for Thursday 1 April, 2021. To get this in your inbox every morning click here. Quilter International sells for £483m Quilter has agreed to sell its international business for £483m to life assurance group Utmost Group, as it looks to focus its attention on its UK wealth management division. The FTSE-listed wealth manager announced the board had “unanimously agreed” to sell Quilter International as it was “less strategically aligned” to Quilter’s UK proposition. In a stock market announcement today, the co...

Top UK Stocks to Watch: Next raises guidance after strong online sales growth Joshua Warner April 1, 2021 8:40 AM The outlook for Next improves as it prepares to reopen stores, Mastercard invests in Airtel Africa’s mobile money business, Quilter shareholders are set for a potential windfall after it sells its international arm, and Entain said it will continue to expand into new markets. Share: Top News: Next ups expectations as it prepares to reope...

Life company was put under strategic review late last year Two Isle of Man life companies look set to merge, following an announcement that Utmost Group has entered into an agreement to acquire Quilter International. The deal is subject to regulatory approval and will see Quilter receive roughly £483m ($664.9m, €566.9m) in cash assuming completion on 31 December 2021. The plan is to fold Quilter International into Utmost international, to which it will add £22bn of assets under administration and 90,000 life policies. In addition to its Isle of Man base, Quilter International has offices ...

The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers. Date: 22 Jun 2021