RCS - Utmost Group - Utmost International attracts £4.2bn gross flows

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27/02/2023 08:15

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RNS Number : 0614R  Utmost Group  27 February 2023

 

27 February 2023

 

 Utmost International attracts £4.2bn gross flows and secures £1.3bn net
 flows for 2022

 

Today, Utmost Group announces flows and Assets under Administration of Utmost
International for the year ended 31 December 2022.

 

Highlights

 

· Utmost International achieved robust gross inflows of £4.2bn in 2022
against a challenging macroeconomic and inflationary backdrop (2021 Pro Forma:
£4.8bn)

·  Net inflows for the year were £1.3bn, comparable to the £1.5bn pro
forma figure in 2021, supported by high client retention rates

· Utmost International Assets under Administration ("AUA") were £51.9bn at
YE 2022, a decrease compared to the YE 2021 figure driven by lower market
values for all asset classes. Asset valuations have shown signs of recovery in
Q4 2022 and early in 2023 with global equity markets recovering some of the
losses of earlier periods and increased stability in investment markets

· 2022 Annual Premium Equivalent ("APE") was £397m (2021 Pro Forma: £484m)
reflecting the lower volume of new business in our established markets, which
was offset by a strong sales performance in our growth markets

 

Utmost International 2022 Net Flows

 £bn                Opening AUA  Gross   Outflows  Net Flows  Market      Closing

                                 Flows                        Movements   AUA
 FY 2022            55.9         4.2     (2.9)     1.3        (5.3)       51.9
 FY 2021 Pro Forma  51.1         4.8     (3.3)     1.5        3.4         55.9

 

Paul Thompson, Utmost Group plc commented:

"I am pleased to announce resilient gross inflows of £4.2bn in 2022, rounding
out a successful year for the Group. High client retention rates have
contributed to our strong net flows figure of £1.3bn.

 

"These figures reflect the long-term benefits of our proposition to our
clients. Our strong relationships with our partners have demonstrated
continuity through the integration of Quilter International which is reflected
in our robust sales, and strong performance in our growth markets in Europe
and Asia.

 

"Longer-term sectoral trends are supportive of our continued business growth,
with increasing demand for robust, transparent investment and savings
products. Utmost Group remains well placed to capitalise on our existing
strong market position."

 

The Group will announce its Full Year 2022 Results in late April 2023.

 

For further information, please contact:

 

Utmost Group plc

Anne Marie Shepherd, Head of Strategy and Corporate Affairs

Tel: +44 (0)203 861 4347 / Email: annemarie.shepherd@utmostgroup.co.uk
(mailto:annemarie.shepherd@utmostgroup.co.uk)

 

Temple Bar Advisory

Alex Child-Villiers / William Barker

Tel: +44 (0)20 7183 1190 / Email: utmost@templebaradvisory.com

 

 

 

About Utmost Group plc

Utmost Group plc is a leading provider of insurance and savings solutions. Its
principal businesses are Utmost International and Utmost Life and Pensions,
which together are responsible for over £57bn of primarily unit-linked
policyholder assets for around 530,000 customers. Utmost Group plc is subject
to Group Supervision by the PRA.

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