“Our strategy is informed by our focus on good client outcomes, our vigilant approach to risk and our scalable operational platform.”
Paul Thompson, Group CEO
Today, Utmost Group plc (“UGP”) has announced a strong set of results. 2021 was a seminal year with the Group achieving a number of milestones and delivering on its KPIs.
- Quilter International Acquisition: The Group completed the strategic acquisition of Quilter International in November 2021, cementing Utmost International’s position as the leading global provider of insurance-based wealth solutions
- Capital Raise: The Group issued its inaugural public debt instrument in September 2021 consisting of £400m Tier 2 notes. It completed a second issuance in January 2022, raising £300m of Restricted Tier 1 notes
- The Group has locked in long-term funding at attractive yields in an environment of rising interest rates and heightened geopolitical tensions
- The proceeds of the Restricted Tier 1 issue were paid as a dividend to UGP’s immediate parent, Utmost Holdings (Guernsey) Limited (“UHGL”) which in turn used the money to repay all outstanding external bank debt and to return capital to shareholders
- Pathway to Net Zero: The Group committed to reach net zero in its investments by 2050, with a 50% reduction by 2030. It became a signatory to the UN-supported PRI, demonstrating our commitment to running a sustainable business. The Group has a net zero carbon status in its operations achieved via Verified Carbon Standard offsets
- Board Appointments: The appointment of two new independent directors to the Utmost Group Board in October 2021 reinforces the culture of strong governance and risk management as the Group embarks on the next phase of its development
Commenting on the results, Paul Thompson, Group CEO, said:
“2021 has been a seminal year for the Group. As the results for 2021 demonstrate, every strategic decision we have made has contributed to our strong growth momentum. Our ethos of making a positive difference kept us on track through the pandemic.
“The Group is at an exciting juncture. Driven by the entrepreneurial spirit of our teams, I am confident we can capitalise on Utmost’s excellent progress to further strengthen our leadership position in the insurance and savings market.”
Please read the full RNS here.
For further information, please contact:
Utmost Group plc
Anne Marie Shepherd, Head of Strategy and Corporate Affairs
Tel: +44 (0)203 861 4347 / Email: [email protected]
Temple Bar Advisory
Alex Child-Villiers / William Barker
Tel: +44 (0)20 7183 1190 / Email: [email protected]
About Utmost Group plc
Utmost Group plc is a leading provider of insurance and savings solutions. Its principal businesses are Utmost International and Utmost Life and Pensions, which together are responsible for approx. £63.7bn of primarily unit linked policyholder assets for around 560,000 customers. Utmost Group plc is subject to Group Supervision by the PRA.