Aptia New Pensions and Employee Health and Benefits Specialist Formally Launches with 1,100 Clients

2024-12-22 09:45:03 Health and Fitness

720

India - January 8, 2024: Aptia, a dedicated pension, health and benefits administration specialist, today announced its formal launch with 1,100 global clients to support more than 7 million people with health and wealth administration. Aptia was formed by the acquisition of the UK pension administration and U.S. health and benefits administration segments of Mercer, a business of Marsh McLennan (NYSE: MMC), by Bain Capital Insurance with participation from Bala Viswanathan, Founder & Group CEO, and Dominic Burke, Founder & Group Chairman.

Aptia represents the combination of the largest pensions administrator in the UK and one of the most trusted health and benefits administration platforms in the U.S. This uniquely enables the Company to launch as a leading business with significant scale, resources, deep technical expertise, proven solutions, and key insurer relationships. The transaction included more than 3,500 employees across the UK, U.S., India, and Portugal that provide specialist solutions that are focused on the skills and technology that clients require to manage the health and wealth administration for their employees, members, and policyholders.

Aptia is led by Viswanathan, Burke, and a highly experienced management team. In preparation for its global launch, Aptia has bolstered this team with a series of senior appointments, welcoming leading specialists with expertise in financial services, operations, and technology, including Mike Methley as Group President and Chief Administration Officer, Chris Rayner as Group Chief Financial Officer, Imran Ali as Group Chief Information Officer, Melissa Hetherington as Group General Counsel and Company Secretary, R K Rangan as the Chairman and President India and Roopa Abraham Kochar as Chief People Officer.

"In a highly complex and underserved market, we are excited to launch a global specialist business that has a team with an unrelenting focus on client service and technological advancement," said Viswanathan. "Aptia is committed to raising standards and providing our clients with fresh perspectives and insights. Our solutions, which are delivered by teams trusted by some of the world's largest employers, will deliver real value to clients and their employees, members, and policyholders."

"Because we are launching with an experienced team and established platforms, we have a unique ability to help clients navigate the complexities inherent in delivering efficient pensions and benefit administration," added Burke. "At the heart of Aptia's strategy is a deep commitment to investing in our greatest assets - our people and our technology. By doing so, we position ourselves for the future, ensuring our ability to deliver forward-thinking and reliable solutions."

The transaction was previously announced in June 2023. Bain Capital Insurance is investing in Aptia to support and to scale its mission to build a leading platform that utilizes innovative technology and deep specialist expertise to deliver high-quality, reliable service to clients worldwide.

India Context to the announcement:

Aptia, formed through the acquisition of Mercer's U.S. health and benefits administration businesses and its U.K. pension administration business, has officially launched, bringing its deep expertise and innovative technology to 1,100 clients and supporting 7 million people globally.

Aptia currently employs 1,500 in India, across offices in Mumbai, Pune, Gurugram and will recruit 60 more at a senior level in areas such as HR, Finance, Legal, Risk and Compliance.

Aptia's senior leadership team is available to you to discuss these topics, the ambitions for the business, 'why now', and much more.

Mr. RK Rangan, Chairman of Aptia Group (India), said: "India holds a central position in the global landscape for enhancing capabilities across various sectors. As Aptia charts its journey to become a leading authority in global pensions and employee benefits, our base in India plays a pivotal role in driving organizational growth. The operations in India are set to solidify our position as a seamlessly integrated global administration provider, driven by principles of exceptional services and conscientious innovation. With strong capabilities at our disposal, we eagerly anticipate guiding a promising future for the 7 million individuals relying on us for their well-being."

About Aptia

Aptia is a trusted provider of employee benefits and pensions administration services, with offices in the UK and U.S., supported by shared services in India and Portugal. It manages programmes covering over 7 million people and serving more than 1,100 clients. Aptia delivers efficient and reliable solutions that ensure the smooth management of pension plans and employee benefits programmes. Our dedicated team of experts combines in-depth knowledge with leading technology to simplify the administration process.

About Bain Capital Insurance

Bain Capital Insurance is the dedicated insurance investing business of Bain Capital, a leading global private investment firm with over $180 billion under management across 22 offices on four continents. We seek to collaborate with leading insurance businesses and management teams to unlock value and drive innovation across the insurance industry, specialising in insurance investing strategies that span the entire value chain and growth spectrum - from catalysing transformational change, creating new platforms, and stepping into capacity-driven dislocations, to partnering with industry participants to meet their long term strategic and investment return targets.