Anant Bhalla, executive chairman of JAB Insurance, said the acquisition fits JAB’s strategy of deploying permanent capital in attractive insurance markets and backing differentiated balance‑sheet capabilities. “We look forward to welcoming the Utmost Life & Pensions business and all its policyholders into the JAB Insurance family,” he said, adding JAB intends to “fully support the leadership team to ensure a seamless process through deal completion and beyond, and to make ULP a significant solution for long‑term financial security for UK policyholders.”