Quilter (QLT)

Sector:

Financials

Index:

FTSE 250

138.45p
   
  • Change Today:
      3.75p
  • 52 Week High: 156.62p
  • 52 Week Low: 110.58p
  • Currency: UK Pounds
  • Shares Issued: 1,902.25m
  • Volume: 3,024,105
  • Market Cap: £2,633.67m
  • RiskGrade: 103
  • Beta: 0.00

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 138.45p
Change Today 3.75p
% Change 2.78 %
52 Week High 156.62p
52 Week Low 110.58p
Volume 3,024,105
Shares Issued 1,902.25m
Market Cap £2,633.67m
Beta 0.00
RiskGrade 103

Quilter Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.29% below the market average4.29% below the market average4.29% below the market average4.29% below the market average4.29% below the market average
44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average
Price Trend
34.03% above the market average34.03% above the market average34.03% above the market average34.03% above the market average34.03% above the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average
Income
46.24% above the market average46.24% above the market average46.24% above the market average46.24% above the market average46.24% above the market average
10.34% below the sector average10.34% below the sector average10.34% below the sector average10.34% below the sector average10.34% below the sector average
Growth
3.81% above the market average3.81% above the market average3.81% above the market average3.81% above the market average3.81% above the market average
1.61% below the sector average1.61% below the sector average1.61% below the sector average1.61% below the sector average1.61% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 6
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 29-Aug-19 25-Apr-19
Paid 20-Sep-19 20-May-19
Amount 1.70p 3.30p

Trades for 13-Sep-2019

Time Volume / Share Price
16:37 56,544 @ 138.38p
16:35 1,156,701 @ 138.45p
16:29 771 @ 137.90p
16:29 500 @ 138.00p
16:29 448 @ 137.95p

Quilter Key Personnel

CEO Paul Feeney
CFO Mark Satchel

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