Utmost Group plc has sold its Life and Pensions business (ULP) to JAB Insurance, strengthening JAB's position in the UK Bulk Purchase Annuity market.

Target Information

Utmost Group plc has successfully reached an agreement for the sale of its Life and Pensions business (ULP), a significant player in the UK life and pensions sector. ULP manages assets exceeding £5 billion and caters to approximately 290,000 pensioners. The company has a strong footprint in the UK Bulk Purchase Annuity (BPA) market, having established a competitive franchise that emphasizes delivering tailored solutions and servicing existing policies.

Since its market entry in late 2024, ULP has executed 11 full buy-ins amounting to £311 million, demonstrating its capability to attract substantial business in the BPA segment. The expertise and unique offerings of ULP position it favorably for this transaction, signaling robust operational performance in a competitive landscape.

Industry Overview in the UK

The UK insurance industry is a crucial component of the country's financial services sector, contributing significantly to the economy. Life insurance, in particular, plays an essential rol