The Corporate and Commercial team from leading independent offshore law firm, Cains, has recently advised on the sale of IOMA Group, the bespoke insurance and pension solution provider headquartered in the Isle of Man, to Wilton Group.
The deal, which is subject to regulatory approval from the Isle of Man Financial Services Authority, will see each of Isle of Man Assurance Limited, IOMA Horizons Limited and Isle of Man Insurance Management Limited being sold.
The IOMA companies are bespoke insurance and pension solution providers that have been at the forefront of the insurance market in the Isle of Man since 1971, currently employing 29 people and managing close to £500 million in assets.
Cains’ corporate and commercial team, which was led by Scott Leonard-Morgan, acted as lead Isle of Man legal advisors, assisting IOMA Group throughout all stages of the transaction, which was mutually agreed in a short timeframe between the parties.
IOMA’s Executive Chairman, Robin Bigland, commented: “It was a pleasure once again to work with Cains, whose commitment, flexibility and professionalism ensured that we managed to achieve the companies’ collective wishes within a very fast turn-around time.”
Scott Leonard-Morgan, Director of Cains, said: “We have worked with the IOMA Group for many years now and so were delighted to have been able to assist with the sale to Wilton Group. This is an exciting transaction for Cains to have worked on and we wish all those involved the very best for their next chapters.”