RiskCo acquires InAdmin from APG

RiskCo acquires InAdmin from APG

Dutch pension administrator RiskCo has agreed to acquire the defined contribution pension administration subsidiary of APG Groep.

The deal will see the pension administration provider take over InAdmin and the administration of defined contribution pensions of about 175,000 participants, made up of pension funds, asset managers and insurers.

RiskCo and APG, the largest pension delivery organisation in the Netherlands, struck the deal for InAdmin at the end of March. The deal is expected to close in May.

RiskCo, founded in 2005, develops systems for managing long-term, complex administration on behalf of pension funds and life insurers.

The firm moved into active administration in October 2017 and took over Aon Hewitt’s pension administration business, snagging 75,000 participants with largely defined benefit contracts in the process.

Cees Krijgsman, CEO of RiskCo, said: “This new expansion illustrates that RiskCo is now a one-stop shop for pension funds and other pension providers who want to outsource their administrations.”

“We have worked long and hard to develop superior systems for the modelling and management of long-term obligations. We are experts in these administrations. As a result, we can claim to be the cost leader in the industry. With constant price pressure in the industry, it is logical for pension funds to turn to technology enabled specialists for the administration.”

Wim Henk Steenpoorte, COO and member of the board at APG said: “APG is happy to announce this transaction which will create a solid and progressive company. This is good for the clients and personnel of InAdmin. APG will continue to serve their larger pension fund clients with class leading and innovative investment and administrative and customer service solutions.”

Categories: European Pensions, News

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