Dubai: International Financial Group — previously known as RL360 Group said it has reached an agreement with the Aviva Group to acquire Friends Provident International Limited, subject to regulatory approval.
No financial details of the deal were mentioned in the email sent by International Financial Group.
“Our immediate aim, once we have received regulatory approval for the deal, will be to look at how best we can integrate FPIL into the Group,” David Kneeshaw, IFGL’s Chief Executive said in a statement.
FPIL has £7.6 billion (Dh36.4 billion) in funds under management and its addition to IFGL will take the Group’s combined assets to 15.9 billion pounds and policies to 250,000.
FPIL, which employs around 500 staff worldwide and services in the region of 180,000 policies, has its head office in the Isle of Man, where IFGL is also headquartered.