The Royal London group has agreed with funds advised by independent private equity firm Vitruvian Partners to support a management-led buyout of Royal London's offshore arm 360° and 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 rebranded '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 b...
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