According to Utmost, it is now the second largest cross-border provider of unit-linked wealth management solutions in Europe, having doubled assets under management to €24bn over the last year.
With further acquisitions in the pipeline, the insurer says it is on target to meet AUM of €30bn (£26.33bn, $34.7bn) in the “near term”.
The Generali PanEurope deal was announced in December 2017, with parent company Life Company Consolidation Group (LCCG) outlining plans to create a specialist wealth manager by combining it with Utmost in a show of “commitment to the international life market”.
Following the merger, the company has been renamed Utmost PanEurope.
Mike Foy, chief executive of Utmost, said: “While we have doubled in size over the last year, with more growth to come, we maintain one clear focus on providing wealth management and succession planning solutions to high net worth and ultra-high net worth clients and their professional advisers.”
Generali
In a separate statement, Generali confirmed that it will “remain active in Ireland through its Global Business Lines, and the former Generali PanEurope will continue to act as the Irish and PanEuropean partner for the corporate employee benefit business to serve existing and future clients”.
