UK - SL Investment Management, a traded endowment policy (TEP) and life settlement product provider, has acquired competitor PolicyPlus.
SL chief executive, Jeremy Brettell says: "PolicyPlus is a long standing competitor in the TEPs market and one that we have admired and worked with cooperatively over the years. We are delighted to be able to combine the expertise of both companies."
Ann Looker, previously chief executive for PolicyPlus says: "Trading as 'Surrenda-link', SL has enjoyed the same longevity and gravitas in the TEPs market as PolicyPlus. Strategically, our two businesses are a very good fit, but as we have shifted our corporate focus to other business areas we are delighted that SL has acquired the business, brands and assets of PolicyPlus and Freetrawl, to continue to grow and develop it in the secondary life markets."
Freetrawl is an online endowment trading platform for financial advisors and was included in the transaction.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.