An Isle of Man-based offshore finance company has completed an acquisition granting it closer access to the European market.
International Financial Group Ltd (IFGL) has acquired Dublin- and Liechtenstein-based Octium Group.
Octium Life DAC, formerly UBS International Life DAC, specialises in providing solutions for affluent, high-net-worth and ultra-high-net-worth clients, while Octium International Insurance Agency AG is the sister company supporting the distribution and intermediation of Octium Group products.
Octium’s Central Bank of Ireland and FMA Liechtenstein licences provide access to customers through the EU.
The business joins IFGL with approximately €8.5 billion in assets under management and a team of 70 colleagues. Octium will continue to operate under the leadership of its CEO, Dara Hurley, ensuring continuity for clients, partners and employees as the businesses come together.
For IFGL, the move marks “a significant milestone in the Group’s long-term strategy to expand its presence across Europe”.