Acquisitions

The Future

Our programme of Business Transfers is very much ongoing and benefits transferring organisations, their customers and Reliance Life's customers through the economies of scale we can bring. In particular Reliance Life has considerable experience in with-profits governance and is happy to take on portfolios of business which may not be core to the other company's strategy. If you are a business or organisation interested in realising benefits through this process, please contact our Chief Executive or Chief Actuary via the Contact us page.

April 2018 - Reliance Mutual

In April 2018 the Life Company Consolidation Group acquired Reliance Mutual Insurance Society and the company was renamed Reliance Life.

For a list of companies whose business is now with Reliance Life please click here

August 2008 - Time Assurance

The remaining part of the business that could not be transferred from Family Assurance Friendly Society in 2004 due to the restrictions in tax legislation at the time. The restrictive legislation was amended in the Finance Act 2007.

August 2007 - Hearts of Oak Friendly Society

Hearts of Oak was one of the larger friendly societies in the UK with £320m of assets under management. Hearts of Oak has ceased to exist.

June 2007 - University Life Assurance Society (ULAS)

Acquired from Equitable Life Assurance Society. A subsidiary of the Equitable since 1919, ULAS had concentrated on writing business for the teaching and administrative staff of universities and similar academic institutions.

September 2006 - SEB Trygg (UK) Life Assurance Company Ltd

Acquired from a major Swedish bank.

July 2005 - Eurolife Assurance Company Limited

October 2004 - Family Assurance Friendly Society

The part of the Family Assurance business which was largely originally written by Time Assurance and Templeton Life Assurance Limited.

2003 - Criterion Life Assurance Limited

A wide range of life and pensions business. Part of the business of Criterion, was transferred into Reliance Mutual by a Scheme of Transfer in June 2004. Criterion Life Assurance Limited was sold in January 2005 with that part of its business not transferred to Reliance Mutual.