JAB Nears Deal to Buy UK Pensions Unit of Oaktree-Backed Utmost

JAB Insurance is nearing a deal to buy the UK life and pensions business of Utmost Group, according to people familiar with the matter.

A deal between JAB Insurance and Utmost, a British insurer backed by Oaktree Capital Management, could be announced as soon as next week, the people said, asking not to be identified because the information is private.