Press ReleaseULP

Utmost Life and Pensions enters strategic partnership with J.P. Morgan Asset Management

04 April 2019

Utmost Life and Pensions Limited (formerly Reliance Life) is pleased to announce it has entered a strategic partnership with J.P. Morgan Asset Management (JPMAM).

The partnership is in line with Utmost Life and Pensions’ goal of developing products and services designed to help customers achieve better outcomes. It also underscores Utmost Life and Pensions’ objective to build a leading consolidator for the UK Life and Pensions market.

The partnership will deliver a wide range of funds and leading investment solutions for customers and advisers, leveraging the strength, depth and breadth of investment expertise and resources that JPMAM has to offer.

JPMAM will be the appointed investment manager for the existing unit-linked business of Utmost Life and Pensions, and the unit-linked funds arising as a result of the expected Equitable Life acquisition, a mandate initially totalling in aggregate £6.5 billion.

Paul Thompson, Group Chief Executive of the Utmost Group of Companies: “We are delighted with the appointment of JPMAM and looking forward to commencing our strategic partnership, which will develop a modern, professional and broad ranging investment proposition for Utmost Life and Pensions policyholders. This partnership is a key pillar in our strategy for these businesses and a step forward in the delivery of our strategic objectives.”

Stephen Shone, Chief Executive of Utmost Life and Pensions: “We are looking forward to our partnership with JPMAM and providing an exciting and innovative proposition for our customers. This will include a range of multi- and single-asset investment funds to suit the needs of all our customers whether they are individuals or group pension schemes.”

Patrick Thomson, EMEA CEO at J.P. Morgan Asset Management: “We’re delighted to be partnering with Utmost Life and Pensions. We’re committed to helping to deliver superior outcomes to policyholders across asset classes by deploying our globally diversified investment capabilities. In addition to our global reach, we have a deep history and expertise in the UK market, and we look forward to using our centuries of experience to support Utmost Life and Pensions in meeting their long term strategic objectives.”