LCP has signed a definitive agreement to acquire Aon’s pensions consulting, pension insurance broking, pensions administration and investment consulting business in Germany.

As reported by our sister publication, European Pensions, the deal is contingent on the completion of the pending merger of Aon and Willis Towers Watson, alongside other customary closing conditions.

Aon CEO, Greg Case, said the agreement demonstrated “further momentum” on the path to the proposed merger of Aon and Willis Towers Watson.

Once the transaction between LCP and Aon is completed, the business in Germany will be rebranded as LCP.

LCP said that the deal would provide “substantial potential for innovation and growth” in the German pensions market, and would make LCP one of the largest pension consultancies in Germany.

Commenting on the deal, LCP CEO, Aaron Punwani, said: “A key part of LCP’s strategy is diversifying the business into different markets with long-term growth potential. The German pensions consulting market is the third largest in the world, after the US and the UK, which makes it a natural place for LCP to achieve a leading position, mirroring what we have achieved in the UK in recent years.   

“The business we are acquiring is well-respected and has a strong blue-chip client base, complementing that of LCP in the UK and Ireland.

“The German pensions consulting market is extremely well-placed for innovation and growth as businesses review their pensions strategy with a greater focus on funded and insured solutions, and it is ripe for a technological transformation of the type that LCP has delivered for its clients in the UK and Ireland in recent years.  

“We see a meeting of minds with the knowledgeable and dynamic people who lead the business in Germany. We are truly excited about welcoming Fred Marchlewski and his fantastic team as part of LCP and achieving great things together for the benefit of our people and our clients.”   

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