Oneglobal Acquires Bermuda-Based Life and Annuity Services to Expand Offerings

Oneglobal Broking, an independent Lloyd’s broker supported by JC Flowers, has announced the acquisition of Life and Annuity Services, a Bermuda-based specialist in life insurance and annuity planning. This strategic acquisition is pending regulatory approval and aims to expand Oneglobal's service capabilities and diversify its product offerings to both corporate and individual clients. The integration of Life and Annuity Services will enable Oneglobal to deliver more comprehensive risk management solutions, particularly enhancing their financial protection portfolio in life insurance and annuities.

Life and Annuity Services will maintain its existing brand identity while becoming a fully owned subsidiary within the Oneglobal group. This move reflects Oneglobal’s commitment to broadening its expertise and servicing High Net Worth (HNW) and Ultra High Net Worth (UHNW) clients through tailored life insurance and annuity strategies. The acquisition positions Oneglobal to address evolving global insurance needs with a more holistic range of risk and financial products.

Leadership commentary highlighted the alignment of both companies’ values and professionalism, emphasizing the enhancement of service quality and the ability to provide personalized financial protection solutions. This strategic consolidation in the Lloyd’s broking market underscores a trend of expanding capabilities through targeted acquisitions to remain competitive in international life insurance and annuity broking.

The acquisition is significant within the reinsurance and insurance brokerage sectors as it reinforces Oneglobal's market presence and capability set amid an increasingly complex and competitive insurance marketplace. It also signals a continued focus on specialized life insurance and annuity products which are critical to risk management and financial planning for affluent clients.

Overall, this development illustrates strategic growth and diversification efforts by a Lloyd’s-backed broker that aims to leverage combined expertise to set new industry standards in life insurance and annuity planning services.