Isle of Man company RL360° has been awarded Best International Life Group (non-UK) at the 2017 International Fund and Product Awards.
The event, organised by industry publication International Investment and held at the Millennium Hotel, Mayfair, also saw the international offshore savings, protection and investment provider awarded highly commended in the Best International Protection Plan (Life) for its Asset Protection Plan.
RL360° Chief Executive David Kneeshaw said: “We are delighted to receive this prestigious award, which recognises the progress we have made over the last few years. We have been successful in implementing our strategy of growing the business organically and through acquisitions while at the same time improving the quality of service we deliver to policyholders and their advisers.”
Ardan International, also owned by RL360° parent company International Financial Group Limited (IFGL), took the award for Best International Platform.
The Awards also saw the Isle of Man win Best International Finance Centre, beating competition from rivals Guernsey, Jersey and the Cayman Islands.
It has been a busy and successful few years for RL360° and IFGL. The Group acquired CMI Insurance Company Ltd (now branded RL360° Services) in 2015 and wealth platform Ardan International the following year.
And July saw IFGL announce its largest acquisition plan to date - a deal with Aviva to acquire Friends Provident International Limited (FPI), subject to regulatory approval. FPI is headquartered in Castletown, with offices around the world, and employs in the region of 400 staff. Its acquisition will take IFGL’s combined assets to ?15.9bn and policies to 250,000. The acquisition will create a combined Embedded Value* for IFGL of over ?1bn.
Earlier this year RL360° announced it had achieved 11% growth in new business in 2016.
*Embedded Value is the present value of future profits plus adjusted net asset value.
Photo - Denzil Williams
