Jardine Lloyd Thompson Ireland Holdings Ltd (“JLT Ireland”), a subsidiary of Jardine Lloyd Thompson Group plc (“JLT”), one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, has today announced that it has agreed to acquire Liberty Asset Management Limited (Liberty) from Friends First Life Assurance Group.
Liberty is a leading specialist in providing advice to companies and trustee boards on employee benefit arrangements and individuals on wealth management solutions. Also being acquired as part of this transaction is Freedom Trust Services Limited (FTS) which provides trusteeship services to a range of corporate and individual pension funds.
These businesses have a strong strategic fit with JLT Ireland and together will draw on the wider JLT Group’s market leading expertise as one of the UK's leading employee benefit providers offering a wide range of benefit and pension services, including administration, actuarial and pension consultancy, investment, flexible benefits, healthcare, benefit communication and financial education. Today JLT has over 5,000 clients with more than 4 million pension scheme members supported by over 2,200 JLT professionals. This will create a new force in the employee benefits industry within Ireland which is going through a period of considerable change and will offer the opportunity to develop innovative solutions to both existing and new clients.
Commenting on the transaction, Pat Howett, Chief Executive Officer, JLT Ireland, said: “This acquisition provides a unique opportunity to bring together two perfectly aligned businesses. The scale of the integrated business will make JLT a new significant force in the Employee Benefits sector in Ireland. We are looking forward to exploiting the Group’s technical knowledge and technological capability to provide leading edge services to clients. JLT’s ambition is to develop a market leading position in Employee Benefits in Ireland and our new colleagues share this vision and together we all look forward to this exciting opportunity.’’
Steve Robinson, UK Director, JLT Employee Benefits, said: “Liberty Asset Management has a very strong emphasis on client service and building strong relationships, so culturally is a good fit with JLT Employee Benefits. Their diverse range of services from wealth management to group risk provides a platform for significant growth in Ireland. We look forward to working with our new colleagues.”
Michael Lacey, Managing Director, Liberty Asset Management, said:
“The JLT philosophy of acquiring companies to build them for the long-term was very attractive to us and we saw a fit for our company with them from the outset. We are confident that by becoming a member of the JLT family we can provide new opportunities to both our customers and employees through increased investment in our services and people.”
JLT Ireland CEO
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Notes to Editors:
About JLT Ireland
JLT Ireland is part of the Jardine Lloyd Thompson group, one of the world's leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT Group is quoted on the London Stock Exchange and owns offices in 40 territories with more than 9,500 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
About JLT Employee Benefits
JLT Employee Benefits is one of the UK's leading employee benefit providers offering a wide range of benefit and pension services, including administration, actuarial and pension consultancy, investment, Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs) administration, flexible benefits, healthcare, benefit communication and financial education.
JLT Employee Benefits has over 5,000 clients with more than 4 million pension scheme members supported by over 2,200 JLT professionals. Innovative solutions developed by JLT Employee Benefits include the multi award winning benefits platform Ben Pal.
About Liberty Asset Management Limited
Liberty Asset Management was established in 1996 and is one of Ireland's leading independent financial firms with 38 employees. Liberty is also authorised by the Central Bank of Ireland to act as a Qualifying Fund Manager for the administration of Approved Retirement Funds/Approved Minimum Retirement Funds business.
Freedom Trust Services Limited is a Revenue Approved, professional, full service Trusteeship Services company which helps clients to deal with all of the administrative, compliance and training requirements of the Pensions Act.
This announcement may contain "forward looking statements" regarding the financial position, business strategy or plans for future operations of the Group. By their nature, forward looking statements involve risk and uncertainty, relating to facts that are beyond the company's ability to control, such as future market conditions. Any such statements in this announcement speak only as at the date of this announcement. The company does not assume any obligation to, and does not intend to, revise or update these forward looking statements except as required pursuant to applicable law.
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