Policy provider ReAssure has come under fire after it has begun to reject advisers' requests for client policy transaction histories but has now promised to start fulfilling, Professional Adviser can reveal.
There are several advisers whose clients have policies with ReAssure because they were former Old Mutual Wealth (OMW) or former Legal & General (L&G) policyholders. Many who have policies with the company did not take them out with it. At the end of 2017, for example, L&G sold its closed mature savings business to ReAssure for £65m. The business was largely made up of retail customers who held traditional insurance-based pensions, savings and investment products. In 2019, Quilter sold OMW Life Assurance to ReAssure for £425m. The firm has also previously bought blocks of business from...
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