RL360º, the Isle of Man based wealth management and life insurance company, announced last week that it has entered into an agreement with Lloyds Banking Group to purchase its international life insurance business Clerical Medical International subject to regulatory approvals.
KPMG provided cross-border integrated deal advisory support to RL360º including M&A advice and associated financial, actuarial, regulatory and tax due diligence support across the Isle of Man, UK and Hong Kong.
Commenting on the transaction, David Kneeshaw (Chief Executive of RL360º) said: “We have made no secret of the fact that pursuing acquisitions forms part of RL360°’s strategy to build scale and support our growth plans. We have built a strong relationship with KPMG over a number of years and were confident that they would bring the highest level of professionalism and experience to assist us successfully complete this transaction.”
If you would like to discuss KPMG’s role with respect to the transaction in more detail please contact Simon Nicholas.
© 2018 KPMG LLC, an Isle of Man Limited Liability Company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.