On 3 February 2017, LCCG signed an agreement with Reliance Mutual Insurance Society Limited (“Reliance Mutual”) under which it is proposed that Reliance Mutual will be demutualised and all of its business transferred to a newly formed UK Life Company established by LCCG. The proposed transaction would represent LCCG’s first acquisition in the UK and is expected to form the platform for further acquisitions in the UK.
Reliance Mutual has 200,000 policies and manages assets of £1.9bn, from its office in Tunbridge Wells, Kent. The transaction is expected to close by the end of 2017.
Please visit the Reliance Mutual website below for more details: