Winterthur Life is planning to build on its reputation as a specialist Sipp provider to provide more general investment services to its high-net-worth and corporate client base.
Chief executive Mike Kellard says he believes that with pension simplification and caps on the levels of savings, there will be demand for other investments outside the pension structure which high-net-worth clients will use for financial planning for retirement.
The group will investigate offshore fund options, building on moves to increase the choice of funds in products such as the elite multi-man-ager fund range.
It says there are 400,000 high-net-worth and ultra-highnet-worth investors in the UK with assets of more than £689bn.
Kellard says: “We are not going to become a monolith of the insurance world but our niche will be high-net-worth and large corporates.”