Tag Archives: Steve White

Milliman & Barnett Waddingham announce pensions joint venture

Milliman and Barnett Waddingham, UK’s largest independent provider of actuarial, administration and consultancy services, today announced a joint venture.

Operating under the name of MBW International, the joint venture brings together the significant expertise of the two independent firms to deliver superior global retirement benefits advice to companies with headquarters in the UK and global companies with UK operations. The new organisation will offer truly independent global pensions advice from a single source, with full access to the experience and resources that live within the Barnett Waddingham and Milliman businesses. It will follow their shared values of providing quality, independent advice to their clients.

Nick Salter, Senior Partner at Barnett Waddingham, said: “MBW International will allow us to extend our global pensions expertise to support the full needs of multinational organisations with their overseas pension arrangements, whilst retaining the independent ownership structure of Barnett Waddingham. Clients of MBW International can expect to receive the same high quality, independent advice that Barnett Waddingham and Milliman are already known for.”

Steve White, Milliman CEO, said: “The establishment of MBW International enhances the range of retirement consulting services Milliman can offer its multinational and UK-headquartered clients. The obvious synergies between Milliman and Barnett Waddingham are built on our shared values: Independence, quality, and dedication to superior client service.”

A midsized proposition

We’ve blogged about this before: The benefit outsourcing market has become more mature and now presents an attractive alternative to internal benefits administration, even for smaller firms. Not only has the cost comparison changed, but the increasing complexity, limited flexibility, and inherent risk of internal administration may also combine to make outsourcing a better option. Once the transition to outsourcing is complete, an employer can refocus resources on more important strategic elements that affect its business and its employees.

A new paper published in the latest Benefits Quarterly examines outsourcing possibilities for smaller companies.