RL360°
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 RL360° Life Assurance Company | |
| Company type | Privately held |
|---|---|
| Industry | Financial Services |
| Headquarters | , |
Area served | Worldwide |
Key people | CEO: David Kneeshaw |
| Products | Offshore Savings & Investment Products[1] |
| Website | www.rl360.com |
RL360° Insurance Company Limited (RL360°) provides offshore savings, protection and investment products to expats and local nationals around the world. It has a B+ rating from actuarial consultancy AKG [2], as well as 4 stars for service. RL360° is headquartered in the Isle of Man and serves clients in Asia, Africa, the Middle East, Emerging Europe, the UK and Latin America. It is part of the RL360° Group, which has 60,000 policyholders, in excess of £7 billion in assets under management and 300 staff.[3] Most RL360° staff are based at the company’s headquarters in the Isle of Man but others are based in Hong Kong, Beirut, Dubai, Johannesburg, Luxembourg, Panama, the UK and Malaysia.
Core Services
- Regular premium savings products: Quantum, Paragon.
- Personalised portfolio bonds product: PIMS.
- Regular premium life insurance products: LifePlan, Protected Lifestyle Lebanon (PLL).
- Single premium bond product: Oracle.
- Wraps – RL360° provides the offshore bond for 7 UK wrap platforms.
Executive Team
- David Kneeshaw – Chief Executive[4]
- Mike Crellin – Finance & Commercial Director
- Simon Pack – International Sales Director
- Simon Barwell – Director of Marketing
- Denzil Williams – Infrastructure Director
- Colin Shopland – Director of Legal & Compliance
- Alistair Brogden – Appointed Actuary
History
RL360° in its present form came into being in November 2013 but its origins can be traced back to 1991.[5]
Scottish Provident International Life Assurance Limited (SPILA)
- SPILA was incorporated in the Isle of Man on 19 February 1991 as Hafnia Prolific International Life Assurance Limited.[6]
- Hafnia Prolific International Life Assurance Limited was acquired by Scottish Provident Institution and changed its name to Prolific International Life Assurance Limited in March 1993.[7]
- In June 1993 Prolific International Life Assurance Limited changed its name to Scottish Provident International Life Assurance Limited (SPILA).
- In November 1998 SPILA opened a local branch office in Hong Kong to support local intermediaries and their clients. The company also obtained a license in Dubai and established Marketing Services Companies in South Africa and Cyprus.
- In 2001 SPILA’s parent company Scottish Provident Institution demutualised and the business was transferred to the Abbey National Group.
- In December 2003 Abbey strategically focussed on the UK and closed international new business in insurance and banking, concentrating solely on new business in the UK.
- Banco Santander acquired Abbey in November 2004.[8]
- On 1 September 2006, Santander sold all of its life business to Resolution plc.
- In November 2006, SPILA received a license to reopen to new business in Hong Kong.
- SPILA was acquired by the Royal London Group in January 2009.[9]
Scottish Life International
- Scottish Life established Scottish Life International Insurance Company (SLIIC) in the Isle of Man in 1996. [10]
- Royal London Mutual Insurance Company Limited purchased the Scottish Life group of companies in 2001.[11]
- In December 2008 SLIIC was renamed Royal London 360 Insurance Company Limited.[12]
Royal London 360°
- In June 2008 Royal London announced its intention to operate its two offshore life companies under a single brand and Royal London 360 was launched in January 2009.[13]
RL360°
- In October 2013, the Royal London 360° executive team formed the RL360° Group which in November 2013, backed by private equity firm Vitruvian Partners[14], bought the company from Royal London and renamed it RL360°. [15]
Other Companies in the RL360° Group
Clerical Medical Insurance Company Ltd (CMI)
- CMI was one of the first international life assurance operations to be established by a UK company in 1987.
- Following a number of ownership changes, it became a closed book of business in March 2012.[16]
- On 1 December 2015 RL360° acquired CMI, with its c.16,000 policies and more than £4bn assets under management.[17][18]
- On 5 April 2016 CMI was re-named RL360 Life Insurance Company Limited and re-branded to RL360° Services.[19]
Ardan International
- On 15 November 2016 the RL360° Group announced it was acquiring international platform business Ardan International, subject to approval from the Isle of Man Financial Services Authority, and the deal completed on 30 December 2016.[20]
- Following the acquisition, Ardan International continues to operate under the Ardan brand, independently of RL360 Life Insurance Company.
Office Locations
RL360° Headquarters in Isle of Man.
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| "columns-list" | No | Yes | {{columns-list}} (wraps div col) | – | – | |
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† Can template handle the basic wiki markup {| | || |- |} used to create tables? If not, special templates that produce these elements (such as {{(!}}, {{!}}, {{!!}}, {{!-}}, {{!)}})—or HTML tags (<table>...</table>, <tr>...</tr>, etc.)—need to be used instead.
Sponsorships
2016 TT Superstock Race sponsored by RL360° Quantum
Olympic shooter and Double Trap World Record holder Tim Kneale sponsored by RL360° Quantum.[21]
- RL360° Quantum Superstock TT Race (Isle of Man TT Races)
- Isle of Man Youth Cycling League
- Olympic shooter Tim Kneale [22]
- Viking Longboat Championships
- Isle of Man Mixed Football League
- RL360° Young Farmers Netball team
- Manx Youth Sailing Scheme [23]
References
- ^ "About RL360°", RL360°. Retrieved 26 January 2017.
- ^ "RL360° retains its B+ AKG rating", RL360°. Retrieved 5 February 2016.
- ^ "RL360° Group Website", RL360° Group. Retrieved 2 March 2017.
- ^ "Company Overview of RL360 Insurance Company Limited", Bloomberg. Retrieved 2 February 2017.
- ^ "RL360 Insurance Company Limited company information", OpenCorporates.com. Retrieved 2 February 2017.
- ^ "Hafnia Offers Fund Portfolio Via an Insurance Package", The New York Times, 21 September 1991. Retrieved 2 February 2017.
- ^ "Scottish Provident to buy Prolific", Independant. Retrieved 2 February 2017.
- ^ "Santander scraps UK bank brands", BBC UK, 27 May 2009. Retrieved 3 February 2017.
- ^ "Royal London to buy £1.2bn Scottish Life", The Telegraph, 1 October 2000. Retrieved 2 February 2017.
- ^ "Scottish Life International", Risk.net, 1 October 2005. Retrieved 2 February 2017.
- ^ "Company Overview of Scottish Provident International Life Assurance Limited", Bloomberg. Retrieved 2 February 2017.
- ^ "Royal London wins bid battle for Scottish Life", Independent, 2 October 2000. Retrieved 2 February 2017.
- ^ "Royal London sells offshore wealth unit 360°", The Telegraph, 15 November 2013. Retrieved 2 February 2017.
- ^ "Just Eat backer closes in on Lloyds tax planning business". FT Adviser. 3 December 2015.
- ^ "Royal London Our History", Royal London. Retrieved 2 February 2017.
- ^ "Scottish Widows sells offshore business to RL360", Money Marketing UK, 7 May 2015. Retrieved 3 February 2017.
- ^ "RL360 wraps up CMI acquisition", FT Adviser, 3 December 2015. Retrieved 2 February 2017.
- ^ "Just Eat backer closes in on Lloyds tax planning business". FT Adviser. 3 December 2015.
- ^ "RL360° rebrands CMI after acquisition", International Adviser, 5 April 2016. Retrieved 2 February 2017.
- ^ "Ardan International To Be Acquired By RL360, Ardan International, 15 November 2016. Retrieved 2 February 2017.
- ^ "RL360° Quantum Backs Elite Athlete in 2016 Rio Olympics, wn.com, 7 March 2016. Retrieved 3 February 2017.
- ^ "Offshore investment company sponsors Olympian Tim Kneale, Huw Hopkins, 3 March 2016. Retrieved 3 February 2017.
- ^ "RL360 Sponsorships, RL360. Retrieved 3 February 2017.