SS&C completes acquisition of Capita's Life insurance and pensions servicing business
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SS&C completes acquisition of Capita's Life insurance and pensions servicing business 03 March 2021Ireland Reporter: Maddie Saghir
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SS&C Technologies has completed the acquisition of Capita Life & Pensions Services (Ireland) Limited (CLPSI) and certain related businesses.
The purchase price was not disclosed.
The addition of CLPSI acquisition will extend SS&C's business process outsourcing offering internationally.
CLPSI provides business process management, technology and consultancy services to the international life and pensions sector.
Services offered include financial and back-office administration, claims management, actuarial and financial reporting, investment administration, product and IT development and business transformation services.
The acquisition adds approximately 370 employees in Dublin, Belfast, and Craigforth.
The group will continue to focus on Ireland as part of SS&C's Global Investor and Distribution Solutions business.
Bill Stone, chairman and CEO of SS&C Technologies, says: "We are pleased to welcome CLPSI's clients and skilled personnel to SS&C. This acquisition increases not only our footprint, but our depth across multi-jurisdictional servicing, life and pensions expertise, and technology to support products throughout their lifecycle.”
“Retirement assets are becoming increasingly complex and our global investor and distribution solutions provide a variety of capabilities from accumulation through distribution,” Stone adds.
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