The Royal London group has entered in to an agreement with funds advised by independent private equity firm Vitruvian Partners to support a management-led buyout of Royal London's offshore arm 360° and its subsidiaries for an undisclosed sum.
The 360° executive management team, led by chief executive David Kneeshaw, will remain unchanged. Following completion, the company will be re-branded "RL360°". RL360° will be further strengthened through support from the global reinsurance group Munich Re, as well as an element of long term financing from Royal London, and in addition to capital from Vitruvian. RL360° was established in 2009 through the merger of Scottish Life International and Scottish Provident International. The company offers a broad range of offshore investment, savings and tax planning products to investors ...
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