Following the acquisition of CMI Insurance Company Limited last year, RL360° Group has changed the name of CMI to RL360 Life Insurance Company Limited and revealed that this part of the business will now operate under the brand name RL360° Services. A new website has been created for policyholders who were previously CMI customers and all the relevant literature has been rebranded to reflect the changes.
The acquisition of CMI from Lloyds Banking Group was completed on 1 December last year and it created a combined group with around 300 members of staff, 60,000 policies and GBP7 billion in assets under management.
No changes to terms and conditions for existing policyholders
RL360° Chief Executive David Kneeshaw has reached out to RL360° Services policyholders to reassure them that although the rebrand has seen a period of change for the company, there will be no alterations to the terms and conditions of their policies. According to Mr Kneeshaw, apart from a different name and contact details, the only changes that policyholders should expect to see are improvements to the services they receive. This news will no doubt be welcomed by the policyholders who are being impacted by the developments.
The combined group is ‘stronger’
Mr Kneeshaw went on to highlight the benefits of the acquisition. He remarked: “We are proud to bring CMI under the RL360° brand and equally proud to be retaining the history of CMI, which was one of the first international operations to be established by a UK life company back in 1987.”
According to Mr Kneeshaw, the combined group is now stronger. He noted that the company has a “wealth of history and experience” to draw on.
Royal London 360° formed in 2008 when Scottish Provident International Life Assurance Limited came together with fellow Isle of Man-based firm Scottish Life International Insurance Company Limited. The savings and investments provider changed its name to RL360° after a management-led buyout that took place in November 2013. You can find out more the company by checking out RL360° reviews and visiting its website.
The company offers a range of products, including Quantum, Oracle, Paragon, Life Plan and a Personal Investment Management Service. If you would like more in-depth information on its flagship regular savings product Quantum, you can find RL360° Quantum reviews online that will provide you with further details. There is also comprehensive product literature available on the company’s website.