The Royal London Group has announced a management-led buyout of Island-based Royal London 360°
RLG says it has entered in to an agreement with private equity firm Vitruvian Partners to buy Royal London 360 and its subsidiaries for an undisclosed sum.
It's stated that there will be NO job losses and the management team will remain the same.
Royal London 360 which has its headquarters on Cooil Road in Douglas employs around 200 people and has offices in Dubai . . Hong Kong and Lebanon.
It was established in 2009 through the merger of Scottish Life International and Scottish Provident International and manages funds in excess of £2 billion.
As part of the buyout, the company will be re-branded "RL360"