Proposed transfer of the IOMA wealth book into RL360 Services
In January 2024 we announced that RL360 Life Insurance Company Limited (RL360 Services) had entered into an agreement with Isle of Man Assurance Limited (IOMA) to acquire IOMA’s wealth book of business. The transfer of the wealth book is by way of court approved scheme of transfer in the Isle of Man (the Transfer)
This website section contains full details of the proposed Transfer. You do not need to take any action, however you do have a right to object to the proposal and have your objections considered as part of the court process.
Subject to the necessary regulatory and court approvals, the Transfer is due to take place before the end of 2024.
Please use the links below to find out more about the proposed Transfer.
Document Library
containing a summary of the Scheme, a questions and answers section, a summary of the Independent Actuary’s report, the legal notice and contact details for RL360 Services and IOMA
the application to the High Court of Justice of the Isle of Man including the terms of the Scheme
the Isle of Man scheme document that will be submitted to the High Court of Justice of the Isle of Man for approval
the report of the independent actuary on the impact of the Scheme on the policyholders of IOMA and RL360 Services
Scheme of Transfer: Supplementary Independent Actuary Report
A supplementary report from the Independent Actuary, to provide an update on the conclusions set out in his first report
the notice published in two newspapers in the Isle of Man
Telegraph and FT newspaper notice
the notice to be published in the Daily Telegraph and in the international edition of the Financial Times.