Utmost Group has completed the sale of its bulk purchase annuity business Utmost Life and Pensions (ULP) to JAB Insurance.
The completion of the transaction further simplifies the group’s structure and supports Utmost’s continued focus on its core international wealth solutions businesses.
On completion of the sale, Utmost Group will repay the remainder of the £200m bank debt, which was utilised for the purchase of Lombard International in December 2024.
The remainder of the sale consideration received from JAB Insurance, together with cash remittances from Utmost Group’s remaining operating companies, will be utilised to return a further £215m of cash to Utmost Group’s ultimate shareholders.
