Cinven to acquire International Financial Group.

Cinven, a private equity business, agreed to acquire International Financial Group, a life insurance provider of cross-border, long-term savings products for internationally mobile clients. Financial terms were not disclosed. "Cinven is delighted to be investing in IFGL. IFGL is an established insurer with a strong market position. It has a large back book, which sits alongside an established new business franchise that is well diversified geographically. The Cinven team knows the market well through its previous life insurance investments, including Guardian in the UK and Viridium in Germany, and has a strong track record of working with companies in the sector to achieve strong growth, in particular, through buy-and-build as well as further product development and internationalisation," Luigi Sbrozzi, Cinven Partner.