Omnilife
Omnilife Insurance Company Limited is a UK-regulated, RGA-owned closed-book life insurer that acquires and manages run-off annuity and life insurance portfolios, including the Hodge Life and Generali books, serving UK individual policyholders.
- Company typePrivate
- Founded1988
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Omnilife does
Omnilife Insurance Company Limited is a UK-regulated life insurance company headquartered at Level 45, 22 Bishopsgate, London, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The company was originally founded in Cyprus in 1988, relocated to the UK in 1994, and has been a wholly-owned subsidiary of Reinsurance Group of America (RGA) since 2019. Omnilife holds an A+ credit rating from Standard & Poor's with a stable outlook, and operates within RGA's strategic, operational, and risk management frameworks.
Omnilife's stated business is the acquisition and management of closed life insurance portfolios, particularly annuities. Its product set includes life insurance, annuities, group risk insurance, and investment policies, plus a separate residential mortgage financing line (LTM) funded through partner lenders such as Pure Retirement. In April 2023, Omnilife absorbed the Hodge Life Assurance Company Limited business via a Part VII transfer, and in November 2022 it absorbed ex-Generali UK policyholders, with both sets of policies administered through EQ (Equiniti). The company operates no mobile app and markets through its corporate website and direct policyholder servicing.
The company's revenue model is conventional for a UK closed-book life insurer: it earns investment returns on assets backing policyholder liabilities, management fees on administered blocks, and net interest from its mortgage financing book. Customer engagement is delivered through direct policyholder servicing, third-party administrators (EQ, RGA UK Services), and financial advisers and brokers. The customer base is dominated by individual policyholders and annuity holders, predominantly in the UK, with no public customer logos and no disclosed headcount, revenue, or premium income.
Omnilife firmographics
Firmographics- Name
- Omnilife
- Legal name
- Omnilife Insurance Company Limited
- Website
- https://omnilife.co.uk
- Company type
- Private
- Founded year
- 1988
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Omnilife Insurance Company Limited is a UK-regulated, RGA-owned closed-book life insurer that acquires and manages run-off annuity and life insurance portfolios, including the Hodge Life and Generali books, serving UK individual policyholders.
- Ownership category
- akta.pro rank
Omnilife industry classification
Industry- Product category
- Life Insurance
- NAICS
- Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)
- SIC
- Life Insurance (6311), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Universal Life (UL) Insurance (FSAIABAB)
- akta.pro secondary industries
- Basic Group Term Life (Employer-Paid) (FSAIADAA), Annuity + LTC / Long-Term Care Riders (FSAIAJAC)
Keywords
Where Omnilife is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Omnilife business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Distribution channels3 records
Marketing channels2 records
Omnilife product offering
Product offeringCore offering
Omnilife is a UK life insurance company that underwrites and administers life insurance, annuities, group risk insurance, and investment-linked policies. It specialises in acquiring and managing closed life insurance portfolios (particularly annuities) and also operates a residential mortgage financing (LTM) book funded through partner lenders such as Pure Retirement.
Product overview
Omnilife is a specialist life insurance company offering a portfolio of products including life insurance, annuities, group risk insurance, and investment policies. The company operates as part of the Reinsurance Group of America (RGA) and focuses on acquiring and managing closed life insurance portfolios, particularly annuities. In April 2023, Omnilife expanded its portfolio by acquiring the Hodge Life business, consolidating all policies, assets and liabilities. The company also maintains a residential mortgage financing operation (LTM) through partnerships with lenders like Pure Retirement.
Differentiator
Problem solved
Functional benefit
Products and services
- Life Insurance
- Annuities
- Group Risk Insurance
- Investment Policies
- Residential Mortgage Financing (LTM)
- Hodge Life Portfolio
Companies that use Omnilife
Customer profileSegments4 records
Ideal customer profiles2 records
Omnilife technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Omnilife partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Hodge Life Assurance Company LimitedcoreBusiness transfer completed at 23:59 GMT on 30 April 2023. All Hodge Life insurance business, including policies, assets and liabilities, transferred to Omnilife. Both companies are part of the RGA group.
- GeneralicorePolicy transfer from Generali to Omnilife. Ex-Generali policyholders are now administered by Omnilife through EQ (Equiniti).
- Reinsurance Group of America (RGA)coreOmnilife is part of the Reinsurance Group of America (RGA) group. RGA is one of the largest global life and health reinsurance companies. Omnilife was acquired by RGA in 2019 and operates within RGA's strategic, operational and risk management frameworks.
- RGA UK Services LimitedcoreProvides administration services to Omnilife as part of RGA group operations. Used for claims assessments and other administrative support.
- RGA Enterprise Services CompanycorePart of ongoing maintenance and development of Omnilife's IT systems within the RGA group structure.
- EQ (Equiniti)coreThird-party administrator handling annuity policy administration for Omnilife policyholders. Previously known as Equiniti. Provides customer service, claims processing, and policy management services.
- Pure RetirementminorLender partner for mortgage financing. Omnilife provides funds to Pure Retirement for residential mortgages and receives personal information from the lender to ensure appropriate use of funds.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
Omnilife competitors and assessment
Company assessmentDirect peers
- Phoenix Group: Europe's largest life and pensions consolidator, acquiring and managing closed books from UK and European insurers. Directly comparable to Omnilife's closed-book consolidation focus under RGA.
- Just Group: UK specialist provider of retirement income, annuities, and care plans that has pivoted toward acquiring and administering closed books of life and pension business. Highly comparable to Omnilife's closed life and annuity portfolio strategy.
- Pension Insurance Corporation (PIC): UK specialist insurer focused on bulk annuity and pension scheme buyouts, with a similar long-duration liability profile to Omnilife's annuity portfolio.
- ReAssure Group: UK closed-book life and pensions consolidator, owning and administering legacy life and pension policies transferred from other insurers. Directly comparable in business model to Omnilife.
- Rothesay Life: UK specialist in pensioner annuities and bulk-annuity transactions, focused on acquiring and managing long-duration retirement liabilities. Closely comparable to Omnilife's annuity-centric closed-book model.
Broad incumbents
- Aviva: One of the UK's largest life and pensions insurers with annuities, group protection, and investment products. Comparable product set but significantly broader scale and continuing new business.
- Legal & General: Major UK life insurer and asset manager with significant annuity and group risk businesses. Comparable product overlap but much larger and operates new business as well as legacy portfolios.
- Reinsurance Group of America (RGA): Omnilife's parent company and one of the largest global life and health reinsurers. Comparable through its life insurance and reinsurance expertise, though operates at vastly greater scale and across global markets.
- Scottish Widows: UK life and pensions provider offering individual and group life, pensions, and investment products. Comparable life insurance and group risk offerings to Omnilife.
Regional players
- Canada Life (UK): UK arm of a Canadian life insurer offering annuities, group protection, and investment products. Comparable product portfolio to Omnilife's UK life and group risk offerings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Omnilife social profiles
Digital presenceOmnilife financial estimates
Financial estimateRevenue estimate
Valuation estimate
Omnilife leadership team
Management profileNumber of profiles
Profiles6 records
Omnilife funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Omnilife M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Omnilife
What does Omnilife do?
Omnilife is a UK life insurance company that underwrites and administers life insurance, annuities, group risk insurance, and investment-linked policies. It specialises in acquiring and managing closed life insurance portfolios (particularly annuities) and also operates a residential mortgage financing (LTM) book funded through partner lenders such as Pure Retirement.
Is Omnilife a public or private company?
Omnilife is a private company. It is classified as corporate owned and is currently operating.
When was Omnilife founded?
Omnilife was founded in 1988. It employs 11 to 50 people.
Where is Omnilife based?
Omnilife is headquartered in London, United Kingdom, in the Europe region.
Who are Omnilife's main competitors?
Direct peers on record are Phoenix Group, Just Group, Pension Insurance Corporation (PIC), ReAssure Group and Rothesay Life. Broad incumbents are Aviva, Legal & General, Reinsurance Group of America (RGA) and Scottish Widows. Canada Life (UK) is listed as a regional player.
Does Omnilife have an API?
No public API is recorded for Omnilife.
What industry is Omnilife in?
Omnilife's product category is Life Insurance. Its primary akta.pro industry code is FSAIABAB, Universal Life (UL) Insurance, with a secondary code of FSAIADAA, Basic Group Term Life (Employer-Paid). Its NAICS code is 524113 and its SIC code is 6311.