Utmost Group Completes Sale of Utmost Life and Pensions to JAB Insurance

Utmost Group plc has completed the sale of its bulk purchase annuity business, Utmost Life and Pensions, to JAB Insurance. The TradingView report did not disclose the sale price. Utmost Group is a London-based provider of insurance and savings solutions, administering over £100 billion of assets across Utmost International and Utmost Life and Pensions.

Utmost Group's Completed Sale to JAB Insurance

Utmost Group said completion of the transaction further simplifies its structure and supports its continued focus on its core international wealth solutions businesses. On completion, the group will repay the remainder of the £200m bank debt, which was utilised for the purchase of Lombard International in December 2024.

The remainder of the sale consideration received from JAB Insurance, together with cash remittances from Utmost Group's remaining operating companies, will be utilised to return a further £215m of cash to the group's ultimate shareholders. The group reported a proforma Solvency Coverage Ratio of 172% following the sale, the debt repayment and the shareholder return.

JAB Insurance completed its acquisition of Columbian Financial Group after rehabilitation proceedings in New York and Illinois, adding the life insurance franchise to its U.S. platform, citybiz reported on September 8, 2026.

Utmost Group's Proforma Capital Position

According to akta.pro company records, Utmost Group was founded in 2013 and is headquartered in London, with a headcount range of 1,001 to 5,000. The same records list Ian Maidens as Chief Financial Officer.

The company's reported financial position as at 30 June 2026 showed Group Own Funds of £3,008m and a Group Solvency Coverage Ratio of 169%. On a proforma basis, Group Own Funds were £2,815m and the Group Solvency Capital Requirement was £1,636m. Proforma Shareholder Unrestricted Tier 1 Own Funds were £2,149m, and proforma Gross SII Economic Value was £3,153m.

Listed Loan Notes and Bank Debt were £825m on a reported basis and £700m proforma, with Net SII Economic Value of £2,666m reported and £2,453m proforma. The Economic Leverage Ratio was 23.6% reported and 22.2% proforma, and the Fitch Leverage Ratio was 23.1% reported and 20.6% proforma.

Utmost Group's Next Steps After Completion

Utmost Group said the sale consideration and cash remittances will fund the £215m return of cash to its ultimate shareholders. The group also said it will repay the remainder of the £200m bank debt on completion of the sale.