You may already be aware that Old Mutual Wealth Life Assurance was bought by the ReAssure group at the end of last year.

Old Mutual Wealth Life Assurance is now ReAssure Life Limited, and in communications we’ll simply use ReAssure on our letters, website and any literature we send you.

If you’re a Financial Adviser, you can find out more about the rebrand in the Adviser Hub

Your questions answered about the rebrand to ReAssure

ReAssure is one of the largest life and pension providers in the UK, looking after £41 billion of assets and 2 million policies on behalf of our customers. This experience, together with our award- winning customer service and 99% claims paid record in 2019 makes us a safe and trusted home for all types of policies.

In recent years, we have acquired blocks of policies from Legal & General, Guardian Financial Services, HSBC Life and Barclays Life. It’s this track record that makes ReAssure a safe and trusted home for all types of policies.

The sale was completed on 31 December 2019, following a thorough process to ensure customer outcomes were safeguarded and receipt of regulatory approval.

This decision to sell Old Mutual Wealth Life Assurance was not taken lightly and came after a strategic review by the Quilter Board. They concluded that it is in the longer-term best interests of customers that their policies are managed by ReAssure, a company focussed on managing legacy life insurance policies. The sale was subject to regulatory approval to ensure customer outcomes were safeguarded.

Here’s what Quilter had to say about the deal:

We believe ReAssure is an excellent home for Old Mutual Wealth Life Assurance as it’s a well-established, highly regarded company that is committed to delivering excellent customer outcomes and has values similar to our own.

Old Mutual Wealth Life Assurance has become ReAssure Life Limited, and for communications we’ll simply use ReAssure on our letters, website and any literature we send you.

We’ve not made any changes to the terms and conditions of your product as a result of the change in brand. Your policy number and any benefits it provides have stayed the same.

Your investment choices are also unaffected, and you will still have the same fund range available to you.

Using the ReAssure brand makes it easier to give our customers easy access to the tools and services we provide. This is just the first step in welcoming you to ReAssure. In 2021 we are planning to move policies to our industry-leading administration system. This will bring you closer to the service and proposition enjoyed by current ReAssure customers, including our new secure online portal ReAssure Now.

ReAssure Life Limited is the new name for the legal entity Old Mutual Wealth Life Assurance Limited. You may see it referenced in a few places, for example in company letterhead, but our customer brand is ReAssure.

The policies that have moved are all Old Mutual Wealth Life Assurance policies, which was also known as the Old Mutual Wealth ‘Heritage’ business. There is no impact on investment and pension products held on the Old Mutual Wealth platform.

You can view a list of products that are part of the business acquired by ReAssure and have been included in the rebrand in Products transferring.

Not much has changed as a result of the rebrand, other than you’re now writing to, or speaking with, ReAssure. Our customer contact email address is ask@reassurelife.co.uk. If you normally correspond with us by email, email addresses end with @reassurelife.co.uk.

The postal address and phone number hasn’t changed because the same experienced people based in the same office location in Southampton are looking after your policy.

If you previously used the Old Mutual Wealth Online Customer Centre you can access your policies online by using the ReAssure Online Customer Centre. This provides all of the same information and services that you previously accessed. It is available through this website.

If you have other policies that remain part of the Old Mutual Wealth platform, you’ll still be able to view them using your existing online services, you just won’t be able to view ReAssure policies alongside them.

In almost all cases you can still use Old Mutual Wealth-branded forms, although anything we send you now will be branded as ReAssure. In the unlikely event you return a form to us that we can’t accept, we’ll contact you to let you know what you have to do.

The good news is that you don’t need to do anything to continue paying by Direct Debit and the change of name doesn’t affect the service you receive. You don’t need to complete a new Direct Debit mandate as information confirming the change has already been given to your bank.

Your bank statements will have changed to show payments being taken by ReAssure after the change of name. Payments due up to 13 June 2020 will show as collected by Old Mutual Wealth, and any payments due after this date  show as collected by ReAssure. Your bank may also have contacted you separately to tell you about this change. Your payments continue to be covered by the Direct Debit Guarantee.

The Direct Debit Guarantee
• This guarantee is offered by all banks and building societies which accept instructions to pay Direct Debits.
• If there are any changes to the amount, date or frequency of your Direct Debit, ReAssure Life Limited will notify you five working days in advance of your account being debited or as otherwise agreed. If you request ReAssure Life Limited to collect a payment, confirmation of the amount and date will be given to you at the time of the request.
• If an error is made in the payment of your Direct Debit, by ReAssure Life Limited or your bank or building society you are entitled to a full and immediate refund of the amount paid from your bank or building society.
• If you receive a refund you are not entitled to, you must pay it back when ReAssure Life Limited asks you to.
• You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.

All account details have stayed the same, but you should ask your bank to change your instruction so the recipient is ‘ReAssure’.

If you pay by cheque, make these payable to ‘ReAssure’.

There are no changes to the amount or frequency of your payments as a result of the rebrand. The only change you’ll notice is that payments are now from ReAssure.

Yes, following the rebrand your investments and insurance policies with ReAssure are still covered by the Financial Services Compensation Scheme, in the same way as before.

Find out more about the Financial Services Compensation Scheme.

Yes, financial advisers have been fully informed about the change to ReAssure and the rebrand of your policy to ReAssure doesn’t affect your relationship with your adviser.

Our Fund Centre is provided by Financial Express, who are in the process of making updates for us. We expect the branding to reflect ReAssure soon, but can assure you that all underlying data within the tool is correct, including fund factsheets which have already been rebranded to ReAssure.

Which products have changed to ReAssure?

The policies that have changed are all Old Mutual Wealth Life Assurance policies, which was also known as the Old Mutual Wealth ‘Heritage’ business. There is no impact on investment and pension products held on the Old Mutual Wealth platform.

Here’s a list of products that are part of the business acquired by ReAssure and have been included in the rebrand.

Personal Pension Scheme (PPS)

Personal Pension (PP1 – PP6)

Buy Out Bond (BB6)

Personal Contracted Out Bond (PCO)

Personal Retirement Account (PRA)

Select Personal Pension Account (SPA)

Free Standing Pension (FS1 – FS4)

Free Standing AVC Account (ACA)

Framlington Monthly Premium Pension Plan (FRM)

Framlington Single Premium Pension Plan (FRS)

Framlington Annual Premium Pension Plan (FRA)

Skandia Pension Plan (SPP)

Independent Pension Plan (IPP)

Independent Pension Bond (IPB)

Series 2 Pension Trustee Bond (TI2)

Series 5 Pension Trustee Bond (TI5)

Series 6 Pension Trustee Bond (TI6)

Trustee Retirement Account (TRA)

Institutional Investment Plan (IIP)

Personal Retirement Income Account (DAA)

Personal Pension Income Plan (DA1 – DA3, DA6)

Employee Benefit Plan (EBP)

Directors Plan (DP)

Executive Pension Plan (EPP)

Self-Administered Pension (SAP)

Executive Pension Scheme (EPS)

Executive Pension (EP1 – EP6)

Executive Retirement Account (ERA)

Maximum Investment Plan (MIP)

Skandia Endowment Plan (SEP)

Capital Accumulation Plan (CAP)

Capital Investment Bond (CIB)

Flexible Investment Bond (FIB)

High Investment Bond (HIB)

Capital and Income Bond (CAB)

Skandia Investment Bond (SIB)

Assured Performance Bond (APB)

Skandia Distribution Bond (SDB)

PETA Bond – Pure Endowment and Term Assurance (PEB)

Enhanced Allocation Bond (EAB)

The Skandia Plan (TSP)

Skandia Lifetime Plan (SLP)

Permanent Protection Plan (PPP)

Protect Life Cover (LC1)

Protect Critical Illness Cover (CI1)

Protect Long Term Care (LT1)