JAB Insurance to acquire the Life and Pensions business of Utmost Group.

JAB Insurance, the global insurance business of JAB Holding Company, agreed to acquire the Life and Pensions business of Utmost Group, a provider of insurance and savings solutions in the UK and internationally. Financial terms were not disclosed. "We look forward to welcoming the Utmost Life & Pensions business and all its policyholders into the JAB Insurance family. This acquisition is consistent with our strategy to enter the most attractive global insurance markets where we can bring our permanent capital alongside differentiated capabilities across the value chain. ULP provides a strong foothold in the UK market, which fits nicely with JAB Insurance’s long-term investment horizon. We intend to fully support the leadership team to ensure a seamless process through deal completion and beyond, and to make ULP a significant solution for long-term financial security for UK policyholders," Anant Bhalla, JAB Insurance Executive Chairman.