Royal London's former offshore business RL360 Group has acquired international life business Clerical Medical International (CMI) from Scottish Widows, creating a business with £8bn of assets under management.
Private equity firm Vitruvian Partners-backed RL360 said it bought the closed book life business to accelerate its growth strategy. RL360 spun off from the Royal London Group in October 2013 in a management-led...
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Cost of acquisition: £31m
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