Falling stock markets and competition pressures are going to force an increasing number of life comp...
Falling stock markets and competition pressures are going to force an increasing number of life companies to decide whether SSASs form part of their core operations, or whether they should be outsourced, according to Hazell Carr's head of Stirling operations Eddie McGuire.
HC has just won the mandate to take over Scottish Equitable's SSASs business, including the transfer of 40 staff.
The Stirling office they will move to already provides administration, legal and actuarial services to Prudential's book of final salary schemes.
"We can add on other portfolios to our existing structure, " McGuire says.
"There is a need to be careful about time and size of deals, although we are looking to do another couple of deals this year. We might also open new offices in England, but that would depend on the deals.
McGuire says he believes the market will grow as the benefits of outsourcing become increasingly apparent.
Industry Voice: For generations, life expectancy has been steadily increasing, with more and more people now likely to live to 100.
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