JLT Group has acquired HSBC Actuaries and Consultants (HACL) in a bid to expand its employee benefits offering.
Duncan Howorth, CEO at JLT UK Employee Benefits, said: “This acquisition brings together two market leading employee benefit consultancies which have great synergy in both culture and client offerings. As a combined business we will be at the forefront of industry developments in all our principal areas of operations: defined benefit (DB), defined contribution (DC) pension solutions and wider employee benefits services.
“JLT continues to develop state-of-the-art offerings for pension schemes and working with our new colleagues we shall be able to provide the technology offerings we have pioneered at Profund and BenPal to its clients as well as ours. I look forward to welcoming our new colleagues from HACL to a group in which Employee Benefits is right at the centre of our strategic ambitions”.
HACL employs 440 employees, operating across six practice areas: trustee consultancy; corporate consultancy; administration services; defined contribution consultancy; investment consultancy and health and risk consultancy
Richard Reid, CEO at HACL, said: “We are focused on ensuring our customers continue to benefit from high quality service and financial solutions. The JLT Group is a market leader in the provision of pension solutions and wider employee benefits and we are now working together to ensure that all of our existing customers benefit seamlessly from our combined expertise.