Quilter (QLT)

Sector:

Financials

Index:

FTSE 250

149.20p
   
  • Change Today:
    -0.80p
  • 52 Week High: 174.70
  • 52 Week Low: 97.60
  • Currency: UK Pounds
  • Shares Issued: 1,839.07m
  • Volume: 2,764,561
  • Market Cap: £2,743.89m
  • RiskGrade: 149

Quilter sells life insurance business to SwissRe for £425m

By Frank Prenesti

Date: Monday 05 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Quilter on Monday said Swiss Re had agreed to buy its closed book life insurance and pensions business for £425m.
The sale would "further act to solidify Quilter's position as an advice led, modern wealth manager", the company said in a statement.

Chief executive Paul Feeney said the company was "currently minded to return a meaningful proportion of the net surplus proceeds arising from the transaction to shareholders and will consult with them on the most appropriate means of undertaking this".

SwissRe said the deal would add more than 200,000 customer policies and £12bn of assets to ReAssure's platform.

The business consisted of Old Mutual Wealth Life Assurance Limited and its subsidiary Old Mutual Wealth Pensions Trustees Limited and includes about 300 employees.

The transaction will increase SwissRe's ReAssure unit's total policy count to 4.5m and assets under administration to £81bn, Swiss Re said in a statement.

Quilter also reported a 5% rise in adjusted first half profits to £115m.

"Quilter produced a solid set of results for the first half of 2019, as evidenced by growth in adjusted profit before tax with revenues growing modestly faster than costs and a stable operating margin," Feeney said.

"We are focused on making Quilter a simpler, more efficient wealth management business, and the announcement today of the sale of Quilter Life Assurance is a further significant step forward in this regard."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Quilter Market Data

Currency UK Pounds
Share Price 149.20p
Change Today -0.80p
% Change -0.53 %
52 Week High 174.70
52 Week Low 97.60
Volume 2,764,561
Shares Issued 1,839.07m
Market Cap £2,743.89m
RiskGrade 149

Quilter Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.19% above the market average42.19% above the market average42.19% above the market average42.19% above the market average42.19% above the market average
27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average
Price Trend
39.54% above the market average39.54% above the market average39.54% above the market average39.54% above the market average39.54% above the market average
49.30% above the sector average49.30% above the sector average49.30% above the sector average49.30% above the sector average49.30% above the sector average
Income
29.57% above the market average29.57% above the market average29.57% above the market average29.57% above the market average29.57% above the market average
55% below the sector average55% below the sector average55% below the sector average55% below the sector average55% below the sector average
Growth
19.64% below the market average19.64% below the market average19.64% below the market average19.64% below the market average19.64% below the market average
19.33% below the sector average19.33% below the sector average19.33% below the sector average19.33% below the sector average19.33% below the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 1
Sell 1
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Quilter Dividends

  Latest Previous
  Interim Final
Ex-Div 03-Sep-20 02-Apr-20
Paid 21-Sep-20 18-May-20
Amount 1.00p 3.50p

Trades for 12-Aug-2020

Time Volume / Share Price
10:19 1,361 @ 149.20p
10:19 564 @ 149.20p
10:19 1,641 @ 149.20p
10:19 1,504 @ 149.20p
10:17 1,521 @ 149.15p

Quilter Key Personnel

CEO Paul Feeney
CFO Mark Satchel

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