Reliance Life

Reliance Life is part of Life Company Consolidation Group, a specialist European life assurance group. Its principal businesses are Reliance Life and Utmost Wealth Solutions, which are responsible for in aggregate £24bn of primarily unit-linked policyholder assets for more than 250,000 customers.

Utmost Wealth Solutions provides international savings, protection and investment solutions into the UK, Continental Europe and Asia from Ireland and the Isle of Man.

Reliance Life is a specialist UK run-off manager, focussed on the acquisition of traditional books of life business in the UK. It was established in 2017 as a newly authorised UK Life Company and recently completed the acquisition of the business of Reliance Mutual Insurance Society through a process very similar to the one envisaged for Equitable Life.

From its offices in Tunbridge Wells it offers a broad range of fund choices to unit-linked policyholders as well as managing with-profits and non-profit policies for over 200,000 customers. Its stated strategy is to continue to grow through further acquisitions of life business in the UK thereby protecting policyholders from the diseconomies of reducing scale in a stand-alone run-off environment whilst securing the highest standards of service and broadest fund choice.

In recognition of the importance of Equitable Life it is envisaged that on completion the head office of Reliance Life will relocate to Equitable Life’s offices in Aylesbury.

Reliance Life

Life Company Consolidation Group