JLT Benefit Solutions is believed to be in advanced negotiations for the purchase of Alexander Forbes Financial Services.
Negotiations between the parties are understood to have been ongoing for several weeks, although neither party has confirmed the deal.
The proposed deal is understood not to involve South African parent Alexander Forbes’ 60 per cent stake in Lane Clark & Peacock (LCP).
Alexander Forbes Financial Services is an IFA and employee benefits consultant. It also has a strong brand in the at-retirement space with its Annuity Bureau business. The group also provides independent trustee services to pension plans through Alexander Forbes Trustee Services and the direct marketing of accidental death benefit policies to the retail market under the “Media Insurance Services” brand.
A JLT Benefit Solutions spokesperson says: “We never comment on market speculation.
Grant Stobart, Chief Executive, Alexander Forbes International says: “It is Alexander Forbes policy not to comment on market speculation.”