Aptia, a newly established company, has officially launched with the support of Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital.
The merger of the two businesses aims to provide exceptional service, support, and benefits plan management to over five million individuals across more than 1,100 clients, Aptia said.
Aptia will oversee a comprehensive employee benefits administration platform for the United States and one of the largest defined benefit pension administration platforms in the United Kingdom. The company will be led by an experienced management team, including CEO Bala Viswanathan and chairman Dominic Burke, who bring expertise from their previous roles at Jardine Lloyd Thompson (JLT) and Marsh McLennan.
“Aptia will focus exclusively on employee benefits administration and specialist pension administration delivered by experts and enabled by technology,” Viswanathan said. “In partnership with Bain Capital, we will seek to create a genuinely differentiated and highly responsive client experience that will resonate strongly in the marketplace.”
“Digital enablement is underpenetrated in these sectors,” Burke said. “We see a clear opportunity to empower our people by continuously investing in the leading technologies they need to efficiently deliver specialized client solutions. We will also prioritize our people from day one by establishing a supportive learning culture that offers the foundation for growth and development both in and outside of the workplace.”
“We believe that investing in people, technology, and operations can build on the existing foundations to grow Aptia into a nimble, innovative, and reliable platform delivering high-quality servicing and fulfillment capability to clients at scale,” said Matt Cannan, a partner at Bain Capital Insurance. “Bala and Dominic have strong track records of creating successful, client-centric cultures. We are excited to partner with a highly talented group of people under their leadership and look forward to building a differentiated international administration business.”
The transaction is expected to be finalized in late 2023, pending customary approvals and closing conditions.
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