JLT unit buys Navy business
JLT EMPLOYEE Benefits yesterday swooped for one of the oldest pension outfits in the UK, buying the former administration unit of the Merchant Navy Officers Pension Fund.
The unit, now called Ensign Pensions Administration, was founded more than 75 years ago to help process the huge pension scheme of the Navy. It started to accept business from other types of pension funds in 1986 and today employs 250 people in two offices in Leatherhead and Birmingham.