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November 16, 2021

Utmost secures regulatory approvals for Quilter International deal

Utmost Group has secured all necessary regulatory and competition approvals to complete its previously announced acquisition of Quilter International .

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The deal is now slated to close on 30 November 2021.

According to a company statement, Utmost Group received green light from the European Commission, the Isle of Man Financial Services Authority and the Central Bank of Ireland for the deal.

Separately, Utmost also received go-aheads from the Dubai Financial Services Authority and the Insurance Authority of Hong Kong and the Monetary Authority of Singapore.

Notably, a subsidiary of Utmost Group signed an agreement in April to acquire Quilter International from Quilter. Total consideration payable will be £481m ($645.58m).

Quilter International provides cross-border wealth management solutions.

As earlier agreed, Quilter International will become a part of Utmost International, the international life assurance business of Utmost Group.

Once complete, the acquisition will add around £23bn of assets under administration and 90,000 policyholders to Utmost International.

This will increase the group’s total assets under administration to nearly £61bn and total policyholders to 580,000.

At the time of deal announcement, Utmost Group CEO Paul Thompson said: “This is a highly attractive acquisition for Utmost Group and underscores the importance of our Utmost International business.

“Quilter International is highly complementary to our existing International business from both an operational, product and distribution perspective.

“The acquisition is in line with our growth strategy and positions us well to benefit from the fundamental growth trends in the international life assurance sector.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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