Marvin OnumonuBroadstone has acquired ExactVAL to boost its services for insurers and pension schemes in the life insurance and bulk purchase annuity (BPA) market.
ExactVAL works with several major life insurers, providing outsourced actuarial valuation and cashflow analysis.
These services help insurers carry out complex calculations more efficiently, which is important in the BPA market as more pension schemes look to de-risk after stronger funding.
ExactVAL will now join Broadstone’s insurance, regulatory and risk advisory team, which already supports clients in the life and non-life insurance markets, including the Lloyd’s and London markets.
This move supports Broadstone’s strategy to grow in this area.
Tony Gusmao (pictured), CEO at Broadstone, said: “The ExactVAL team bring high-quality, specialist expertise to Broadstone, bolstering our proposition to the life insurance market, at this time of unprecedented demand for de-risking solutions.”
Bill Harris, managing director at ExactVAL, said: “Broadstone’s growth ambitions and high-quality offering in the insurance sector make this an exciting opportunity for ExactVAL to increase our capacity and take our services to a wider market.
“Leveraging our shared expertise and values, we can help life insurers price more accurately and efficiently, and increase their ability to perform more transactions, at a time when the market is seeing unprecedented demand for pension scheme de-risking.”
