Oneglobal acquires Bermuda-based Life and Annuity Services

Oneglobal Broking, an independent Lloyd’s broker backed by JC Flowers, has announced the acquisition of Life and Annuity Services, a Bermuda-based specialist.

The acquisition, which is subject to regulatory approval, marks a key milestone in Oneglobal’s effort to expand its capabilities and diversify its offerings.

The move will enable Oneglobal to provide a more comprehensive range of risk solutions to both corporate and individual clients by integrating Life and Annuity Services’ expertise in life insurance and annuity planning.

This acquisition is set to enhance Oneglobal’s capacity to offer tailored financial protection in response to evolving global needs.

According to the announcement, 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 personalized service that our joint clients have come to expect.

Scott Barnett, CEO of Life and Annuity Services, said: “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.”

He added: “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.”