Lumera, a leading insurtech company dedicated to the digital transformation of the European Life and Pensions industry, has entered an agreement to acquire ITM, an independent provider of data management and technology solutions serving the UK Life and Pensions markets.
A major step in Lumera’s international growth strategy and the largest acquisition to date, ITM adds significant presence and capabilities to accelerate growth in the UK Policy Administration Systems (PAS) market. The company has a blue-chip customer base which includes most of the largest UK pension funds, and a team of over 160 professionals who will join Lumera.
“This is a union of two successful businesses with much in common, and above all, a joint vision for digitalizing the Life and Pensions industry which we serve,” says Jonas Alfredson, CEO of Lumera. “With their combination of industry and tech expertise covering Life and Pensions, data management and pensions dashboards, ITM is a trusted partner to leaders in the UK Life and Pensions space, resembling our status in the Nordic markets. I’m also confident that our teams are complementary and highly compatible in terms of skills, spirit and culture.”
The acquisition supports Lumera’s strategic objectives for entering new markets, while bringing substantial additions to the offering, including tech-enabled specialist services for data analysis, regulatory compliance assessments, de-risking and liability management, platform data migrations, data quality management, data cleansing and tracing. ITM also offers expert consultancy solutions, helping customers address large-scale and complex transformation with major implications on technology and business models.
ITM brings a skilled, sizable team with expertise across retirement and wealth, pensions administration, and technology. By making an early commitment and substantial investments in the complex, all-new technology essential for connecting to pensions dashboards, ITM is also a leader in the nascent UK Dashboards Programme ecosystem.
“We believe the time is right for ITM to enter a new phase and a larger context,” says Mark Lecompte, CEO of ITM. “We look forward to Lumera supporting our ongoing growth in the UK pension data market. Strategically and culturally, Lumera provides an excellent match with our organization, as well as with our technology and services portfolios. Together with Lumera, we now look forward to further strengthening our offering to add even more customer value. Lumera has thoroughly impressed us with their PAS technology and their track record from working with customers through major transformation in some of the most competitive insurance and pensions markets.”
Inflexion, a leading European mid-market private equity firm, is the current main shareholder of ITM, together with management and employees. Following the transaction, ITM will be a fully integrated Lumera company. Financial terms of the transaction are not disclosed.
Lumera Acquires ITM to Grow Presence in UK Market
Lumera, a leading insurtech company dedicated to the digital transformation of the European Life and Pensions industry, has entered an agreement to acquire ITM, an independent provider of data management and technology solutions serving the UK Life and Pensions markets. A major step in Lumera’s international growth strategy and the largest acquisition to date, ITM adds significant presence and capabilities to accelerate growth in the UK Policy Administration Systems (PAS) market. The company has a blue-chip customer base which includes most of the largest UK pension funds, and a team of over 160 professionals who will join Lumera.
Ghazanfar Bank serves the financial needs of a variety of commercial customers. Ghazanfar Bank was established in March 2009 serving tens of thousands of customers.
The business of transportation is hardly new, however, some of the newest businesses to emerge onto the scene have models and processes that their predecessors do not. Even though this industry will for the most part always be an essential sector of business,
The Most Innovative Law Firm of 2016, Portugal goes to Esquivel Advogados in Portugal.
On the 27th & 28th of November, Europe’s leading event for expanding business overseas will be returning to the London ExCeL.
The Conscious Together programme aims to create a more responsible business model for the brand by transforming its processes, innovations, and mindset to reduce its impact on the planet, with four ambitions set to be achieved by 2030.
In the journey to homeownership, few factors are as crucial as credit scores. A good credit score not only affects mortgage approval but also plays a significant role in determining interest rates and loan terms. For many potential homebuyers, understanding an
King & Wood Mallesons Advise Parquest's Acquisition of Clinique du Souffle
Nucleus is an alternative business finance provider, set up by Chirag Shah with a clear vision to disrupt the status quo of SME lending with a finance business that served a long-underserved part of the market.
Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.