The following is a statement from First Actuarial about its future, it follows Redington and Buck into Gallagher’s future.
What follows is a press release from Gallagher which is buying First Actuarial , one of the few pension consultancies which is not owned by an insurance broker.
It is joining Buck assimilated by Gallagher. Buck has been owned by many organisations but First Actuarial is different. It has been a partnership and has always had 100% ownership by its group of Founders.
It will now be owned by an American insurance broker.
Global insurance brokerage, risk management and consulting services firm Arthur J. Gallagher & Co. (NYSE: AJG) today announced it has acquired UK-based First Actuarial.
First Actuarial provides pensions administration, employee benefits, consultancy and investment services to employers and pension plans throughout the UK.
First Actuarial’s deep actuarial expertise, strong client relationships and strong customer service will strengthen Gallagher position as a leading UK pensions and benefits consultancy firm. As the UK pensions market evolves with increasing complexity and regulatory change, First Actuarial will bring complimentary capabilities that enhance our combined ability to serve clients across the full spectrum of plan sizes, ensuring seamless integration and a unified approach to delivering exceptional service.
Gallagher chair and chief executive said:
“First Actuarial is a highly regarded firm that expands our pension service capabilities in the UK and complements our employee benefits consulting operations.
“I am very pleased to welcome David [Joy] and his associates to our growing, global team.”
In the year to 31 December 2024, Gallagher reported UK revenues of £83.3m. First Actuarial reported revenues of £45m in the 12 months to 31 July this year.
Please find the press release (linked here)
