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Sunday, June 1, 2008
Health broking

Absa says it recently acquired the consulting, actuarial, administration, and healthcare departments of Glenrand MIB Benefit Services. Various private funds, umbrella funds and insured schemes are included in the deal.
Leon Mostert, Head of Absa Consultants and Actuaries, says this transaction will broaden the company’s retirement fund client base and bring further expertise into the business.
Gary Feldman, acting Head: Absa Health Care Consultants says the deal is good for his division too as it will enhance its client offerings and help it remain a fully independent health care intermediary.
Johann Grobler, Managing Executive: Absa Fiduciary Services, adds that the integration of the Glenrand business into the Absa stable is running smoothly and will not have any adverse effects on service levels.
The existing Glenrand staff complement of just over 125 members will be transferred to Absa Fiduciary Services. “Good progress is being made with the integration process and, in the long run, there is definite potential for broader career opportunities for all personnel as well as exponential growth in business.”

Copyright © Insurance Times and Investments® Vol:21.5 1st June, 2008
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