Independent ratings firm AKG has acknowledged International Financial Group Limited (IFGL's) strength in its latest financial strength assessment rating and report, awarding IFGL brands RL360, RL360° Services and Friends Provident International Limited (FPI) a B+ (very strong) for financial strength.
No other international life company has a higher rating, IFGL said in a statement on 11 January, adding that each brand also received five out of five stars for service.
AKG referred to IFGL as "one of the leading players in the offshore market" and that it had "a management team with a consistent set of individuals has provided the stability to drive a consistent strategy and culture within the group".
It said the Group's position was strengthened by its 2020 acquisition of Friends Provident International Limited (FPI).
"The acquisition has provided an opportunity to leverage synergies and develop the infrastructure to support a significant shift in scale, whilst positioning the group in a favourable place for any future acquisitions and integrations.
"AKG considers IFGL to be a financially strong standalone operation with very strong operational characteristics and strategy, delivered by a consistent management team which provides a strong basis for further development."
IFGL marketing director Simon Barwell said: ‘To once again receive AKG's external validation for IFGL, along with our brands and products, is extremely gratifying.
"We've worked hard to integrate FPI into the Group this year and have been able to maintain our high standards of service we're known for throughout.
"We intend to continue this trend and also to build on our strength as we head into 2022."
AKG Financial Analytics specialise in the provision of ratings, information and market assistance to the financial services industry.
The company's reports are designed to provide advisers the information they need to assess the relative strengths of offshore long-term insurers.
