Utmost International, the provider of insurance-based wealth solutions, has been awarded A (Superior) ratings by AKG for its two businesses with UK operations, Utmost PanEurope and Utmost International Isle of Man.
In a statement on 6 August, it said the "notable upgrade is even more significant with our two businesses being the first life companies to receive the A rating in the AKG offshore sector".
As part of the review process, both companies received five stars across all of the rating categories, "further solidifying our position as a trusted and reliable provider in the industry".
AKG said in its Financial Strength Assessment report: "The Utmost International business has been demonstrating significant momentum in recent years in terms of its scale and strength, with the acquisition and successful integration of QI, and proposed acquisition of Lombard International, augmenting Utmost International's leading position in its respective market."
To read the full report click here.
Utmost operates across the UK, Europe, Latin America, Asia and the Middle East. Its solutions are based on unit-linked insurance policies. It manages c. £57bn of assets under administration on behalf of almost 200,000 policyholders and wrote £3.6bn of new business in 2023.
