Group risk insurer Ellipse has appointed Pitmans Trustees (PTL) to its group life master trust.
The master trust is a new option Ellipse is offering employers. Previously, organisations would have to set up their own discretionary trust.
John Ritchie, chief executive officer of Ellipse, said: “By removing the requirement for firms to manage this process themselves, we are helping to remove business costs.
“We also hope it will encourage those considering offering group life cover to do so, particularly small- and medium-sized enterprises (SMEs).
“We chose PTL to be the independent trustee because of its ability to innovate.”
Richard Butcher, managing director at PTL, added: “This enhancement to the Ellipse offer is a genuine help to employers which will reduce the work they have to do and the risks they are exposed to.
“We are very pleased to have been selected by Ellipse and look forward to working with its team and its clients.”
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