Utmost Group completes ULP sale, plans £215 million shareholder return
Utmost Group has completed the sale of Utmost Life and Pensions, its bulk purchase annuity business, as it narrows its focus to core international wealth solutions operations. The transaction also paves the way for full repayment of the remaining £200 million in bank debt linked to the 2024 Lombard International acquisition and supports a further cash return to ultimate shareholders.
Highlights
- Utmost Group completed the sale of Utmost Life and Pensions to JAB Insurance and will return a further £215 million to shareholders.
- Utmost Group repaid £200 million bank debt used for the Lombard International acquisition and is refocusing on core international wealth solutions.
- Proforma solvency coverage ratio rises to 172% from 169%, with net Solvency II economic value at £2.453 billion and economic leverage ratio improving to 22.2%.
Transaction terms and balance sheet changes
As reported by London Stock Exchange, Utmost Group said the disposal of Utmost Life and Pensions to JAB Insurance is now complete and further simplifies the group structure. The company said the remaining sale proceeds, together with cash remittances from its other operating companies, will be used to return a further £215 million of cash to its ultimate shareholders.On completion, Utmost Group is also repaying the balance of its £200 million bank debt, which was used for the purchase of Lombard International in December 2024. The group said the disposal supports its continued focus on its core international wealth solutions businesses.
Capital position after the disposal
Utmost Group presented reported figures as of 30 June 2026 alongside a proforma view assuming the ULP sale, the bank debt repayment and the shareholder cash return had all taken place on that date. On that basis, group own funds stand at £2.815 billion against a group solvency capital requirement of £1.636 billion, producing a proforma solvency coverage ratio of 172%, up from the reported 169%.The proforma figures also show gross Solvency II economic value of £3.153 billion and listed loan notes and bank debt of £700 million, resulting in net Solvency II economic value of £2.453 billion. Utmost Group said the transaction leaves the business strongly capitalised, while the economic leverage ratio improves to 22.2% from 23.6% and the Fitch leverage ratio falls to 20.6% from 23.1%.
Our earlier coverage of Equites Property Fund’s UK exit strategy explained how the group lifted its interim distribution after selling a £200.5 million UK (Aviva) logistics portfolio and redirecting capital to South Africa. We noted that the disposal reduced leverage, supported FY27 guidance, and left Equites with ample liquidity and improved funding capacity to reinvest in domestic logistics growth.
Latest Wealth Leaders News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
