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Partnership set for £1bn flotation

Partnership’s private equity owner Cinven is considering a £1bn flotation of the enhanced annuity specialist, according to the FT.

In September last year, reports surfaced suggesting the provider could be sold for around £750m.

However, the FT says a stock market listing is now the preferred option for the firm’s private equity owner.

The paper also reports that Cinven plans to use Guardian, the life insurance business acquired from Aegon for £275m in November last year, as a platform for further consolidation of life businesses that are no longer writing new policies.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Well done Partnership who are a great, well managed company and deserve to succeed.

    However do I detect Cinven cashing in their chips before the consequences of RDR become apparent on distribution for this business? I suspect that Partnership will struggle in future as advice channels close.

  2. No life office will struggle if they improve their services to the IFA community and give us what we need, good customer service, prompt attention to requests for quotes, accurate quotes, speedy business transactions and facilitate adviser charging structures.

    In the past a large number of life offices have failed to provide the service we need for our clients and those can go away as far as I am concerned, we need providers eager for our business and prepared to pull out the stops to get the job done.

    Simples, Dimples !

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