On 1 January 2020 Quilter plc completed the sale of Old Mutual Wealth Life Assurance Limited (OMWLAL) to ReAssure. Old Mutual Wealth Life Assurance Ltd was renamed ReAssure Life Ltd on 13 June 2020, taking on the ReAssure brand.
As previously confirmed this has no impact on investment and pension products held on the Old Mutual Wealth platform. OMWLAL was a predominantly closed book of life assurance business made up of life and pension products sold over the last 40 years.
ReAssure is a leading closed book life insurance company in the UK with 4.3 million policies and c.£69 billion in assets under administration (as at 31/12/2018). We believe ReAssure is an excellent home for our Heritage business as it is well-established, highly regarded, committed to excellent customer outcomes and importantly has values very much like our own. Maintaining continuity of high quality customer service is tremendously important and has been a focus of this agreement.
ReAssure has a proven track record of successfully integrating books of pension, insurance and investment business stretching back over 30 years, and has acquired other closed life books from businesses such as Guardian, HSBC, Aviva, Zurich, Barclays Life, and more recently Legal & General.
Where can I find out more information about what the rebrand means for me and my clients?
ReAssure has created a rebrand hub that will provide you with all the information you need about the rebrand and what it means for you and your clients. You can access the hub here.
If you have any further questions about these changes you can also contact the ReAssure Life team on 0808 171 2600.
What will happen for my clients who access their investments online via the Old Mutual Wealth online Customer Centre?
If your clients use the Old Mutual Wealth online Customer Centre they will still be able to access their policies online by using the new ReAssure online Customer Centre. This will provide all of the same information and services that they access now. It will be available through the ReAssure website at reassure.co.uk.
When your clients first access the ReAssure Online Customer Centre they will be asked to reset their passwords. If they have registered for the Old Mutual Wealth online Customer Centre since 1st January 2020 they may be required to re-register on the new ReAssure online Customer Centre.
If they have other policies that remain part of the Old Mutual Wealth platform, they will still be able to view them using our existing online services, they just won’t be able to view ReAssure policies alongside them.
You can find instructions on how to register and log into the ReAssure platform here.