Friends Provident International Limited to be sold by Aviva
As per the announcement made by Aviva plc on 19th July. Aviva announced the sale of Friends Provident International Limited (“FPIL”) to RL360 Holding Company Limited (RL360), a subsidiary of International Financial Group Limited (IFGL). Joining IFGL is a good outcome for FPIL: it brings to a conclusion an unsettling period and our business is a good match for IFGL as it seeks to become the pre-eminent institution in the offshore savings market. Importantly it offers new opportunities for FPIL under the new ownership of IFGL.
David Kneeshaw, IFGL’s Chief Executive, said:
We are delighted to announce the acquisition of FPIL. FPIL’s strong franchise and its branch structure make the business an ideal fit with IFGL and we see significant opportunities for the businesses to work together and grow.
FPIL continues to operate as usual and intermediaries and customers should continue to deal with us in the normal way. Clients’ policies and terms and conditions are unaffected. FPIL remains completely committed to working to meet clients’ investment goals.