UK-based Malborough Stirling Administration (MSA) has joined forces with South African financial services group Sanlam to promote third-party pensions administration services.
As part of the agreement, life and pensions companies can now be provided with an offshore IT and administration outsourcing service. The service will be targeted primarily at the UK and European markets and will administer a range of pension and life products.
Commenting on the partnership, Lizé Lambrecths, chief executive of Sanlam Life, said: “Sanlam will perform the third-party administration on Marlborough Stirling's Lamda system, the same administrative platform currently used by Sanlam for its new generation products. Marlborough Stirling will remain responsible for the distribution of the service, as well as the customisation, implementation and maintenance of the administrative platform.”
Lambrecths said distribution will initially focus on new and closed books in the UK. However, it is envisaged that the operation will be extended to the rest of Europe.
Sanlam went live on Marlborough Stirling's Lamda life and pensions administration solution in October 1999 and currently writes around 50% of its South African new business on the system.
Marlborough Stirling is a UK-based supplier of software and services to the mortgages, life and pensions and investment market sectors of the financial services industry.
In addition to Sanlam, Marlborough Stirling’s clients include Alliance & Leicester, Bank of Scotland, Citilife Financial, Clerical Medical, Egg, Nationwide Building Society, Northern Rock, Prudential and Sun Life Financial of Canada.
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