Pensions - Articles - JLT get green light for Ensign Pensions Admin acquisition

 JLT Employee Benefits has announced that its acquisition of Ensign Pensions Administration  from the Merchant Navy Officers Pension Fund has been approved by the Financial Conduct Authority. The deal was brokered in March 2014, pending regulatory approval. 

 Ensign’s origins go back more than 75 years starting life as the in-house management and administration team for the MNOPF, a major industry-wide pension fund whose members are still looked after by Ensign Pensions Group today. MNOPF began offering third party services in 1986 and since then its third party administration business, under its previous name of MNPA, has grown to become an award winning administrator for 45 UK schemes with approximately 375,000 members. Ensign employs over 250 staff in Birmingham and Leatherhead.

 Mark Wood, CEO, JLT Employee Benefits, says: “We are delighted that FCA approval has come through and we very much look forward to continuing to provide the excellent service to which Ensign clients are accustomed.”