FPI acquisition by RL360° a ‘game changer’ says CEO Kneeshaw

Aviva’s decision to sell Friends Provident International (FPI) to RL360° for £340m is “a game changer” for the life insurance industry, David Kneeshaw, chief executive of RL360°, has said.

FPI acquisition by RL360° a ‘game changer’ says CEO Kneeshaw

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For Kneeshaw, it’s important for the people involved in both companies, as well as clients and advisers, to get as much certainty as possible.

“It is important, by the time we own FPI, which may not be for five months, to give people certainty. They like to know who their boss is going to be and what’s their job. If they know that, they can get on with their day-to-day life.

“Likewise, with brand, advisers want to know who they should be dealing with and what the brand is. So, we will need to make those decisions quickly. Other things like integrating IT systems can take two to three years. It’s about doing things in a way that doesn’t upset customers and advisers.”

Isle of Man

“In a world facing more upheaval not less with all the regulatory, cultural and political change; this is a time of great change. And in that time, I’ve felt it’s really important for the Isle of Man that one of the players is an Isle of Man company. We are headquartered there, we still will be, the management teams are all based there.

“I think that’s important for the island. It’s not just the company issue and I think that’s quite exciting for the Isle of Man.”

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