Alexander Forbes targets acquisition in employee benefits sector
The pension fund administrator is pursuing a ‘sizeable acquisition’ after selling a unit to Sanlam
Alexander Forbes is pursuing a “sizeable acquisition” that is likely to be in the employee benefits sector as it concludes its exit from an insurance industry ravaged by the Covid-19 pandemic.
The pension fund administrator said in its annual results on Monday that it is considering a healthy pipeline of acquisitions that will help it scale up its core pension fund administration and employee benefits operations. That news came as it announced separately that it had reached an agreement on June 11 to sell its group risk and retail life business to Sanlam for R100m...