UK-based employee benefits and pensions administration services provider Broadstone has launched its new stand-alone Insurance, Regulatory & Risk Advisory division.
The new division is dedicated to both life and non-life insurance sectors including the London market and Lloyd’s.
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It is staffed by a team of subject matter experts including financial modellers, experienced actuaries, credit and data analysts, and redress specialists.
Broadstone’s Insurance, Regulatory & Risk Advisory division will offer lenders and investors a range of services, from credit risk, commercial analytics services and financial modelling to actuarial and redress calculations, ensuring clients meet regulatory standards.
For life insurers, the division’s experts will help provide several comprehensive actuarial and risk management consultancy services, which offer options such as advisory and support arrangements as well as full outsourcing of actuarial functions.
Meanwhile, non-life insurers including Lloyd’s Managing Agents and insurance companies in the London market will receive support related to professional and technical aspects in areas such as regulatory capital, pricing, reserving and the provision of chief actuary roles.
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By GlobalDataThe new division also complements Broadstone’s established Pensions Advisory & Administration and Employee Benefits Consulting verticals, expanding the company’s portfolio of services.
The launch of this division follows Broadstone’s recent acquisitions of OAC and Vestigo Partners, which have significantly bolstered the British company’s capabilities in the insurance sector.
OAC’s acquisition particularly benefitted Broadstone in serving life and non-life insurance organisations, while Vestigo’s purchase helped in strengthening credit risk and analytics.
Broadstone CEO Tony Gusmao said: “We see the insurance and risk markets as an exciting opportunity for Broadstone to diversify its offering in complementary markets which require the same skill sets.
“Through the acquisitions of OAC and Vestigo we have set out our strategy to add specialism, expertise and experience to our capabilities in this space, and position the platform for further organic and acquisitive growth.”
