Asperity Employee Benefits has acquired BringMe, the voluntary benefits arm of Lloyds LSB Registrars.
Asperity will take over responsibility for approximately 41 employers’ voluntary benefits schemes with immediate effect, transferring the schemes from the Bringme platform to Asperity’s Reward Gateway platform. Once the 200,000 employees previously served by BringMe are brought under Asperity’s platform, the provider will manage schemes for more than 650,000 UK-based employees.
The deal is part of the sale of Lloyds TSB Registrars to private equity operators Advent. The registrars business has been renamed Equiniti and will now focus on pensions registration, share registration and flexible benefits.
Glenn Elliott, Asperity’s managing director, said: “We’re delighted to be welcoming the employers and employees previously with BringMe to our platform. Overnight, employees will get access to bigger savings and more than 15 times the number of retail offers than they are used to. In addition, employers will gain access to the most advanced, real time management information available in the market, demonstrating the high usage and employer value that Reward Gateway creates.”
George Farrow, product manager at BringMe, added: “We’ll be on hand throughout the transition working closely with Asperity to ensure that all of our clients are migrated quickly to Reward Gateway with the minimum of hassle for the employers.”