Our business

Our strategy is to be a major life and pensions consolidator in the UK market by offering companies who wish to exit from closed books of business the opportunity to do so, and to provide excellent customer service to our acquired policyholders.

Guardian Financial Services became part of Swiss Re in January 2016, and was renamed ReAssure Life on 27 June 2016. The successful transfer of ReAssure Life policies into ReAssure was completed in December 2016. In the future the ReAssure annual report will include ReAssure Life customers.

ReAssure’s 2016 performance

Download ReAssure Group Solvency and Financial Condition Report 2016

Download ReAssure Limited Annual Accounts 2016

Guardian Financial Services’ 2015 performance

Download Guardian Limited PRA Return 2015

Download Guardian Limited Annual Accounts 2015

Our values

The ReAssure brand is a commitment to our customers that reflects our values:

We aim to provide the best service we possibly can. That’s why we’re always trying to improve. Highlights of some of our recent and ongoing initiatives are:

  • Improved clarity and content of our letters, so key messages are clear and easily understood.
  • Restructured our website so navigation is clearer and information is easier to access.
  • Partnered with leading independent investment research provider, Morningstar®, so customers can access fund information, including investment strategy, historical performance, portfolio, risk rating and fees.
  • Responded to government changes to pension rules by changing the way we work and offering our customers access to a wider range of retirement options.

Since we began over 50 years ago we’ve acquired and integrated numerous blocks of policies from other insurers, such as Barclays, GE and Zurich. This has helped us grow into a company that has around £29.6 billion of assets, and over 1.9 million policies on our books.

Our parent company, leading global reinsurer Swiss Re, has been in business since 1863. Its credit rating of AA- (Standard & Poor’s, November 2015), Aa3 (Moody’s, December 2015) and A+ (A.M. Best, December 2015) shows the level of confidence the markets have in its financial strength.

As part of ReAssure, you’ll be with a company that aims to carry on growing. This allows all our customers to benefit from the economies of scale that a large, well-run company brings.

We recognise that the 1,900 staff we employ in our UK offices are our most important asset. By progressing them through a carefully structured, career-focused, training framework we can build up their knowledge and expertise, and help them achieve nationally recognised, industry standards of professional competence. It also means they’re able to provide the high level of customer service that we expect.

Our history

It’s likely you didn’t take your policy out with us

With a proven track record of successfully integrating blocks of pension, insurance and investment business stretching back over 30 years, ReAssure is the ideal home for your policy.

We’ve bought blocks of business from several providers over the years, including HSBC, Barclays Life, Alico and National Mutual (Tomorrow). Read more about our history, including the various companies we’ve transferred policies from, below.

1963

The Occidental Life Insurance Company Limited is originally incorporated.

1966

The business has a name change to Life Casualty & General Insurance Company Limited.

1972

Moves in to the Royal Borough of Windsor and adopts a name change to Windsor Life Assurance Company Limited.

1987

The continued growth and expansion of the company requires relocation to Telford. A new office is built and named Windsor House.

1982 – 1988

The success of growth allows acquisition of UK Life, New Zealand Life, Continental Life and Grosvenor Life.  Windsor Life manages more then £75 million of funds under management.

1992

The acquisition of Gresham Life is added to the portfolio of business.  Windsor Life doubles the company policy base and increases the assets of the business.

1993

Windsor life company status changed by the regulatory body from a small tier to a middle tier financial organisation.  Windsor Life also acquires Aetna Life.

1995

Crown Financial Management is acquired by Windsor Life. The acquisition increases Windsor Life asset to £2 billion.

1996

There is a two block transfer of life and pensions business. The first unit is from the UK business of Lifetime, a subsidiary of Bank of Ireland.  The second unit is from Combined Life, a subsidiary of Aon.

1998

The acquisition strategy continues with the purchase of RFSG (UK) plc and GAN UK plc.

2003

Swiss Re purchases Zurich Financial Services in its first overseas UK deal.

2004

Swiss Re acquires all shares of Windsor Life parent company Life Assurance Holding Company.

2005

The acquisition strategy continues with the purchase of Reassure UK and Virgin Money Life.

2006

The business of the GE Life group of companies is added to the portfolio of acquisitions.

2007

Successful migration of the business of NM Life and NM Pension Ltd, by Part VII Transfer.

2008

Barclays Life Assurance Co. Ltd is acquired.  Windsor Life book of acquisitions has grown to more than £14 billion and is servicing more than one million policy holders.

2011

Windsor Life is rebranded to ReAssure. Successful integration of Barclays Life by Part VII transfer.

2012

Successful transfer of almost 300,000 policies from Alico UK to ReAssure.

2015

Acquisition of the pension and annuity business of HSBC Life (UK).  This saw around 350,000 customers transfer to ReAssure.

2016

Successful purchase of Guardian Financial Services and transfer of policies to ReAssure.