Wilton, an independent professional services, investments and pensions firm, has agreed to acquire Isle of Man Assurance, IOMA Horizons and Isle of Man Insurance Management, subject to regulatory approvals.
The group of companies, which have been present in the Isle of Man since 1971, focus on captive insurance management; life and general insurance; and the administration of retirement benefit schemes.
The IOMA Group has 29 employees and manages approximately £500 million in assets.
Wilton said it plans to retain and strengthen IOMA’s team with the addition of its UK and Isle of Man-based financial services and insurance/investment professionals.
Tony Flanagan, Wilton founder and managing partner, stated: “The IOMA business is highly synergistic with Wilton and will become a key component of our wider financial services offering. Wilton and IOMA target similar markets and clients with complementary products and we are excited by IOMA’s potential as part of Wilton.”
IOMA’s executive chairman Robin Bigland added: “Joining Wilton provides IOMA with a strong, stable, locally managed parent, securing the futures of IOMA’s staff here in Douglas and affording IOMA excellent growth opportunities as part of a bigger network, enabling IOMA to thrive into the future as it has throughout its 50-year history here in the Isle of Man.”
In July, Wilton launched a captive service, which offers consultative business solutions for captive insurance and debt issuance specific to high net worth clients, private family offices and other professional entities.
Wilton Captive Services is headed up by Ian Du Feu and John Dupont.
In recent years, Wilton has acquired businesses including Hartley Pensions, Greyfriars Asset Management, Guinness Mahon, Guardian Pensions and The Lifetime SIPP.
In addition to the Isle of Man, Wilton has offices in London’s Mayfair, Bristol, Blackburn, Leicester, Dublin and Dubai.
