XPS to buy Royal London's corporate pensions business

The business provides actuarial, consulting and administration to 150 small defined benefit (DB) schemes, providing pensions for 8,000 members. The acquisition, which is expected to complete later this month, will see current and future contracts, as well as 46 members of Royal London staff, transferred to XPS. Pro-forma results for the two businesses as at 31 December 2018 showed gross assets of £0.7m on a cash-free basis, and revenues of £3.9m. XPS said the deal would significantly strengthen its presence in the market for the provision of services to smaller schemes, as well as ...