Leading independent law firm Cains is advising international private equity firm Cinven on its agreement to acquire International Financial Group Limited (‘IFGL’), a leading life insurance provider of cross-border, long-term savings products for internationally mobile clients.
IFGL has £19 billion of assets under administration and operates through three principal brands: RL360, Ardan International and Friends Provident International. Financial details of the transaction are not disclosed.
The Cains multi-disciplinary team is led by corporate director Tristan Head and also includes Stephanie Chew, Katherine Sheerin, Matthew Wilkinson, Holly McGarrigle, and Faye Devlin. The team is working closely with Freshfields, who are acting as lead counsel to Cinven.
Tristan commented: “The Isle of Man is home to a number of world-leading brands in the life insurance & wealth management sectors, and it is a pleasure to be working with Cinven and Freshfields on such a significant transaction.”