HAMILTON, Bermudes -- (BUSINESS WIRE) -- June 8, 2005 -- Les actifs sous gestion d'OMNIA (Bermuda) Ltd. ont dépassé le 3 juin 2005 le seuil symbolique du milliard de dollars. Acheté en avril 2003 par Old Mutual plc et connu alors sous le nom de Sage Life (Bermuda), la société a offert à Old Mutual un nouveau canal de vente complétant ses gammes de produits et systèmes de distribution existants fondés sur le dollar.
OMNIA Bermuda Ltd. Assets Reach $1 Billion
HAMILTON, Bermuda--(BUSINESS WIRE)--June 8, 2005--OMNIA (Bermuda) Ltd. surpassed the $1 billion of assets under management milestone on June 3, 2005. Purchased in April 2003 by Old Mutual plc and then-known as Sage Life (Bermuda), the company provided Old Mutual with a new sales channel to complement its existing dollar-based product lines and distribution systems.
The three-pronged strategy of partnering with worldwide financial institutions, focusing on international distribution and building upon the successful product designs of its sister company, Old Mutual Financial Network, has proven successful with 2004 sales of $400 million and sales significantly ahead of target in 2005. John Clifford, CEO, commented, "The OMNIA team combined with Old Mutual's global brand recognition and product expertise has produced outstanding results due in large part to OMNIA's successful partnerships with worldwide financial institutions.
The future for OMNIA is incredibly bright." OMNIA investment products are not offered or available for sale in the United States or to United States citizens or residents or to residents of Bermuda.
These products do not constitute an offer or solicitation to anyone in any jurisdiction in which an offer is not authorized, or to any persons to whom it is unlawful to make such an offer or solicitation.
About OMNIA (Bermuda) Ltd
OMNIA (Bermuda) Ltd., headquartered in Bermuda, develops and markets both insurance and investment plans to non-U.S
. residents, non-U.S. citizens and non-residents of Bermuda through financial institutions in a variety of markets around the world.
The plans are written directly by OMNIA and offer the investor varied investment options and strategies while providing death and other benefit guarantees.
Since joining the Old Mutual U.S. Life group in April 2003, OMNIA has produced outstanding sales results and filled yet another niche in the group's international distribution strategy.
About Old Mutual Financial Network
Old Mutual Financial Network (OMFN) is the marketing name for Fidelity and Guaranty Life Insurance Company, Americom Life and Annuity Insurance Company and Fidelity and Guaranty Life of New York.
OMFN is a part of the Old Mutual group of companies.
Founded in 1845, Old Mutual plc maintains its primary listing on the London Stock Exchange (LSE:OML) and ranks as the world's 12th largest insurer (Life/Health), is a Fortune Global 500 company and a FTSE 100 financial services group.
Working through its network of established insurance companies OMFN is committed to delivering innovative and balanced financial solutions.
OMNIA (Bermuda) Ltd.
Siobhan McNulty, 410-895-0118
KEYWORD: INTERNATIONAL LATIN AMERICA
INDUSTRY KEYWORD: INSURANCE BANKING Finance
SOURCE: OMNIA (Bermuda) Ltd.