Under the terms of the deal, which is subject to regulatory approval from the Isle of Man Financial Services Authority, Ardan will continue to operate independently of RL360° Life Insurance Company.
Rowan Dartington will continue to use Ardan for its international business expansion on an outsourced basis.
David Kneeshaw, chief executive of RL360°, said the acquisition is informed by the belief that platforms will play an increasingly important role in international distribution as the industry faces the challenges and opportunities of regulatory change and commission disclosure.
He said: “The UK is a perfect example of how platforms have gone from the periphery to centre stage over a 10-year period. For some time now RL360° has been thinking this could happen internationally, but there haven’t been the strong providers with the capital backing to really get centre stage.
“We see platforms as having an increasing role in international financial services and we want to be part of that world.
“We obviously bring a lot of contacts in the international space, and we will be putting money into the business during the course of 2017 to help improve its services and make it more IFA friendly.”
