Allstate insurance consolidating cic


01-Jul-2016 14:16

Guardian’s market consistent embedded value (‘MCEV’)i has increased by 540% to £2.7 billion from £0.4 billion, over the same period; Creating an industry leading management team: Cinven appointed a new senior executive management team individually with a proven track record of successfully executing closed life strategies and creating shareholder value; and Significant investment and operational improvements: These include de-risking of Guardian Assurance With-Profits fund and significant investment in improved operational and IT capabilities.Caspar Berendsen, Partner at Cinven, said: “The Cinven Financial Services team identified the consolidation opportunity for closed life books in the UK in 2010, driven by the fragmented nature of the life assurance industry, the ongoing pressure on new business volumes, regulatory change, and banks’ and international insurers’ desire to sell insurance assets or recycle capital.The results generated by this tool are for informational purposes only.Before purchasing a policy, please check with an agent or company representative to ensure the information provided by this tool is consistent with what the company is currently offering.

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