Oneglobal acquires Bermuda-based high-net-worth underwriter

London-headquartered J.C. Flowers & Co majority-owned international retail and wholesale broker Oneglobal Broking has acquired a Bermuda-based life and annuity underwriter, marking its first move into the segment.

The purchase of Life and Annuity Services, which specialises in high net worth solutions, is the broker’s first acquisition and enhances Oneglobal’s capabilities in delivering comprehensive risk solutions across both corporate and individual markets, it said in a statement.

Oneglobal aims to offer high net worth clients more financial protection, tailored to global needs through the integration of life and annuity services into its portfolio.

Headquartered in Bermuda, Life and Annuity Services will continue to trade under its existing name although it will be fully owned and integrated into Oneglobal.

Roger Spicer, group CEO of Oneglobal, commented: “We are excited to welcome Scott Barnett and his team to Oneglobal, in a move that reflects our commitment to bring a holistic offering to our clients. Scott and his team provide us with capabilities in life insurance, annuity planning, and international broking, while maintaining the high standards of professionalism and personalised service that our joint clients have come to expect.”

Scott Barnett, CEO of Life and Annuity Services, said: “Thank you for the warm welcome. My team and I are thrilled to join Oneglobal and to bring our deep expertise in life insurance and annuity planning for High Net Worth and Ultra High Net Worth clients to the table. This partnership marks an exciting opportunity to expand our offerings and provide even more comprehensive solutions to our clients.

“At Life & Annuity Services, we’ve built our reputation on delivering personalized life insurance strategies that meet the evolving needs of clients across diverse markets. We look forward to leveraging our experience in international life insurance broking to further enhance the exceptional service and standards Oneglobal clients have come to expect.

“By combining our strengths, I’m confident that we will set new benchmarks in the industry and offer unparalleled value in life insurance solutions and we look forward to the journey ahead.”

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