JAB Insurance has completed its acquisition of Utmost Life and Pensions, the UK bulk purchase annuity business of Utmost Group, the company said on 28 October 2026.
Why JAB Insurance is buying Utmost Life and Pensions
The deal marks JAB Insurance's entry into the UK insurance market. JAB Pensions will concentrate on growing in the UK bulk purchase annuity market and servicing its existing policies in-house.
Deal terms and financing
The price was not disclosed when the deal was announced in December 2025. Utmost said the proceeds would repay bank debt used to fund its acquisition of Lombard International, with any remainder for general corporate purposes.
Regulatory approvals and timing
Completion followed receipt of all required regulatory approvals.
Market context
Utmost Life and Pensions has more than £5bn of assets and nearly 300,000 policyholders. JAB Insurance says it has closed four transactions in the past 18 months and serves more than 1.5 million policyholders, with about US$30bn of invested assets.
