Guernsey private wealth adviser in MBO
BDO Guernsey directors in management buyout
M&A Deals
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Axa Life Europe sold in €1.2bn deal
French insurance giant Axa is to sell its Dublin-based closed book life business to private equity firm Cinven in a deal worth €1.17bn (£1.1bn, $1.4bn).
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Progeny assets hit £1bn following adviser acquisition
Wealth manager and legal adviser Progeny Group has acquired Evolve Financial Planning in a deal that will see its assets under advice grow to more than £1bn (€1.1bn, $1.3bn).
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FNZ investors plan £2bn sale
The two private equity backers of the fintech firm FNZ, which powers the platforms for Standard Life, Aviva and Quilter, are considering selling their stakes in the company, according to media reports.
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Generali to sell majority stake in German life company
Italy’s Generali Group has agreed to sell a majority stake in Generali Leben to a German life insurance portfolio management company, in a deal that values the business at around €1bn (£882m, $1.17bn).
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South Africa’s Prescient Life sold
Johannesburg-headquartered investment manager 27Four has secured a life insurance licence after agreeing to acquire 100% of Prescient Life from its parent company Prescient Holdings.
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Canada Life UK sells £2.7bn book to Scottish Friendly
Consolidators continue to snap up legacy books of business with Canada Life UK announcing the sale of 155,000 longstanding policies to Scottish Friendly.
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Utmost Wealth Solutions on track to hit €30bn in assets
Isle of Man-based insurer Utmost says it is on course to reach its “near-term” target of €30bn in assets under management, as it confirms the rebrand of recently acquired Ireland-based Generali PanEurope.
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Equitable Life joins £24bn consolidator’s stable
Policyholders could be set for a windfall after the world’s oldest mutual assurer, The Equitable Life Assurance Society, is sold to Life Company Consolidation Group (LCCG).
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Legal & General exits Indian life venture with £45m profit
Legal & General Group is to sell its 26% stake in IndiaFirst Life Insurance to private equity firm Warburg Pincus.
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IFA firm acquisition costs face ‘upward pressure’ – AFH
Private equity and product providers are driving up the cost of buying bigger IFA businesses, according to serial acquirer AFH Wealth Management.
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International wealth boutique buys into UK IFA
London-based wealth manager Dolfin has formed a strategic partnership with the advisory group Alexander House Financial Services.