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11th February 2020
FNZ to acquire IPSI
FNZ, the global platform-as-a-service provider, has agreed to acquire Dublin-based third-party administration(TPA) solutions provider Irish Progressive Services International (IPSI) from Irish Life.
The acquisition reinforces FNZ’s pan-European strategy and commitment to supporting its growing customer base across the continent. IPSI will further enhance FNZ's leading offering, and access to FNZ's core technology will improve the customer experience and open up significant growth opportunities for IPSI.
Established in 1998, IPSI offers end-to-end TPA solutions to deliver a range of professional support services to the life insurance and pensions industry. These cover client migration on IPSI’s systems and processes, ongoing business operations administration and technology services, and servicing client change and development needs.
IPSI currently employs more than 250 people and services more than €30 billion in assets under administration (AUA).
Adrian Durham, chief executive, FNZ Group comments “We are excited to be taking this next step in FNZ’s European growth strategy and gaining significant oversight and operational TPA experience with the acquisition of IPSI.
“The IPSI team have done a fantastic job of developing a sophisticated proposition and cultivating a strong, long-term client base. Bringing together IPSI’s solutions and FNZ’s core technology and global client relationships will allow us to capitalise on the opportunities we see in the market.