Pinsent Masons advises Zurich on the sale of its UK Retail Wealth business to Embark Group

27 Nov 2019 | 01:41 pm | 2 min. read

International law firm Pinsent Masons has advised Zurich, the global insurance provider, on the sale of its UK Retail Wealth business to Embark Group.

The decision is in line with Zurich's commitment to concentrate investment on its core retail and group protection franchise, where it has invested heavily in recent years. As part of the deal, Zurich and Embark have entered into a five-year partnership agreement to develop and deploy leading-edge digital life and protection products through Embark’s technology and distribution channels.

Hannah Brader, lead partner for Pinsent Masons said: "The sale is significant for Zurich and we are proud to have achieved such a successful outcome for them. We worked closely with them to understand what they wanted to achieve and therefore the options available to them. The final outcome is great as it will enable Zurich to concentrate on the areas where they have invested heavily in recent years - core retail and protection franchise - whilst also working alongside Embark to develop innovative digital life and protection products."

Jim Sykes, Zurich’s Head of UK Life, said, “This is an excellent outcome for all parties. Although our Wealth platform is a strong and successful business, we believe the needs of customers and advisers would be better served by an owner that is focused on investing in this specialist area. Embark is ideally placed to take the platform to the next stage in its development. In turn, this allows us to focus our resources on our protection business where we see the greatest growth opportunities. We are excited by our new retail protection partnership with Embark, which is a further signal of our intent in this market.”

The transaction includes Zurich's Investment and Retail Wealth Platform business (Sterling ISA Managers Limited) and its Authorised Corporate Director and Investment Management business (Zurich Investment Services (UK) Limited), with assets under administration totalling c. £11 billion and more than 130,000 advised clients.

Zurich’s wealth platform has performed strongly since its launch six years ago, attracting billions of pounds in flows and winning multiple awards for its functionality. Its five risk-rated, multi-asset Horizon Funds are among the top performers in their sectors.

The acquisition is subject to customary regulatory approvals and is expected to close in the second quarter of 2020.

The Pinsent Masons' team advising on the deal was led by Corporate Partner Hannah Brader with assistance from Emma Dawe and Helen Siviter. Specialist advice was provided by Tobin Ashby and Matt Saward (Wealth), Simon Laight and Michael Kemp (Pensions) and Angus McFadyen and Chris Perks (Commercial).

Latest press releases

Show me all press releases

Pinsent Masons advises public-private partnership to develop £1.2bn Manydown garden community

Multinational law firm Pinsent Masons has advised Basingstoke and Deane Borough Council and Hampshire County Council on a public-private partnership which will see the development of at least 3,500 homes in Manydown garden community in Basingstoke, Hampshire.

Pinsent Masons appoint Banking and Restructuring partner

Multinational law firm Pinsent Masons has appointed restructuring expert Charles Maunder as a Banking & Restructuring partner within their Finance and Projects group. Charles will commence his role in November.

Low number of female applicants for top financial services roles

Little progress being made in hiring and promoting more women to more senior roles.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons appoint Banking and Restructuring partner

Multinational law firm Pinsent Masons has appointed restructuring expert Charles Maunder as a Banking & Restructuring partner within their Finance and Projects group. Charles will commence his role in November.

Low number of female applicants for top financial services roles

Little progress being made in hiring and promoting more women to more senior roles.

Pinsent Masons has advised Nasdaq listed NV5 Global Inc on its acquisition of Mediatech Design Group

Pinsent Masons has advised Nasdaq listed NV5 Global Inc on its acquisition of Mediatech Design Group – a leading technology company providing security, enterprise IT, and building technology solutions headquartered in Dubai.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts