SS&C sets sights on Capita’s life insurance and pensions servicing business
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SS&C sets sights on Capita’s life insurance and pensions servicing business 23 April 2020Dublin Reporter: Maddie Saghir
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SS&C Technologies has entered into an agreement to acquire Capita Life & Pensions Services (CLPSI) Ireland.
The acquisition is set to bolster SS&C’s presence in the international life insurance and pensions servicing market.
CLPSI provides business process management, technology and consultancy services to the international life and pensions sector and has approximately 380 employees in Dublin, Belfast, and Craigforth.
The business offers financial and back-office administration services, claims management, actuarial and financial reporting, investment administration, product and IT development, and business transformation services.
Bill Stone, chair and CEO of SS&C Technologies, said: “CLPSI is a well-established services and technology provider in Ireland, and the acquisition adds to our international outsourcing business.”
Stone added: “Combining our expertise and leading-edge technologies will enable SS&C and CLPSI to provide existing and new clients a first class service offering.”
The acquisition, which is subject to customary closing conditions and regulatory approvals, is expected to close in Q2 2020.
As the transaction is not material to either SS&C or Capita, financial terms were not disclosed.
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