Last checked at 26 Mar 2020 07:00
26 March 2020
ReAssure Group plc
ReAssure published full year 2019 annual report and accounts
ReAssure Group plc ("ReAssure") announces that it has today published its Annual Report & Accounts 2019 (or "Annual Financial Report"). The Annual Financial Report is now available on our website at www.reassuregroupplc.co.uk.
In accordance with paragraph 9.6.1 of the FCA Listing Rules, a copy of the Annual Financial Report has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.
Statement of Directors' responsibilities
The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have prepared the group and company financial statements in accordance with International Financial Reporting Standards ("IFRS's") as adopted by the European Union. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company and of the profit or loss of the group and company for that period. In preparing the financial statements, the Directors are required to:
• select suitable accounting policies and then apply them consistently;
• state whether applicable IFRS's as adopted by the European Union have been followed, subject to any material departures disclosed and explained in the financial statements;
• make judgements and accounting estimates that are reasonable and prudent; and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.
The Directors are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group and company's transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006.
The Directors are responsible for the maintenance and integrity of the Group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
In the case of each Director in office at the date the Directors' Report is approved:
· so far as the Director is aware, there is no relevant audit information of which the group and company's auditors are unaware; and
· they have taken all the steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the group and company's auditors are aware of that information.
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Notes to editors:
1) ReAssure Group plc: ReAssure is a leading UK closed book life insurance consolidator. The group focuses exclusively on the acquisition and management of closed book life insurance policies, with a mission to secure and improve customer outcomes for its policyholders.
2) Swiss Re agreement to sell ReAssure Group plc: On 6 December 2019, Swiss Re announced an agreement to sell its subsidiary ReAssure Group plc to Phoenix Group Holdings plc. The transaction is expected to close in mid-2020, subject to receipt of regulatory and anti-trust approval. For more information, please visit www.reassuregroupplc.co.uk.
Forward looking statements
This announcement may contain certain forward-looking statements, including as to plans, goals, trends and expectations relating to future financial condition, performance and results, which describe ReAssure's current expectations of future events based on certain assumptions, and include any statement that does not directly relate to a historical fact or current fact. By their nature, forward-looking statements involve uncertainty and unknown risks because they relate to future events and circumstances which are beyond ReAssure's control, including, among others, UK domestic and global economic and business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory and governmental authorities, the impact of competition, the timing impact of these events and other uncertainties of future acquisitions or combinations within relevant industries. As a result, the group's actual future condition, performance and results may differ materially from the plans, goals and expectations set out in these forward-looking statements and persons reading this announcement should not place undue reliance on forward-looking statements. These forward-looking statements are made only as at the date on which such statements are made and ReAssure does not undertake to update or revise forward-looking statements contained in this announcement or any other forward-looking statement it may make.
Further information
ReAssure Group plc
Laura Doyle, Head of Investor Relations +44 (0) 20 7039 9199
Investor.Relations@reassure.co.uk
Brunswick Group
Eilís Murphy +44 (0) 20 7404 5959
reassure@brunswick.com