AKG renews FPIL’s five stars for service

19 Dec 2022

Specialist firm AKG has once again acknowledged Friends Provident International Limited (FPIL’s) strength and service.

In its latest report on FPIL’s owner International Financial Group Limited (IFGL), AKG renewed IFGL’s B+ (very strong) financial strength rating for FPIL, as well as for its RL360 and RL360° Services brands. No other international life company has a higher rating.

Each brand also received five out of five stars for service.

It follows IFGL’s recent success at the Global Financial Services Awards, where it won International Life Group of the Year (non-UK) for the second year in a row.

IFGL Marketing Director Simon Barwell said: ‘It is great to see that AKG has renewed its view that IFGL and its brands are such a strong presence in the market place.

‘It comes after AKG awarded our wealth platform Ardan International a B rating (strong) for financial strength and five stars for service.

‘We now turn to our exciting plans for what is no doubt going to be a busy 2023 and beyond for IFGL.’

AKG said it considered 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’.

The report said IFGL had ‘grown to become one of the leading players in the offshore market’.

Referring to the ‘transformational’ acquisition of FPI, AKG said this had ‘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 Financial Analytics Ltd 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.