A Jersey-based provider of personal and corporate pensions, trustee and administration services has been acquired by the largest group of actuaries, consultants, insurance and pensions specialists in the Channel Islands.
Polygon Pensions will now operate as part of BWCI Group, following the completion of a comprehensive due diligence process and receipt of the necessary regulatory consents from the Jersey Financial Services Commission.
The acquisition forms part of BWCI Group’s long-term strategy to grow its Channel Islands pensions business.
Bringing Polygon Pensions into BWCI significantly strengthens our Jersey business and gives us the scale, skills and governance capability to support the next phase of pensions growth on the island
Stephen Ainsworth, senior partner at BWCI Group
Lisa Toland, the managing director at Polygon Pensions, said the transaction “marks a very positive next chapter” for the provider.
“BWCI shares our values, our commitment to high standards, and our focus on delivering robust, well governed pension solutions for clients and advisers alike,” she continued.
“Joining BWCI provides our team with access to wider group resources and expertise, while ensuring continuity for our clients and IFAs.
“We are excited about the opportunities this creates for our people and for the continued development of the Jersey pensions market.”
Stephen Ainsworth, a senior partner at BWCI Group, said: “We are delighted to have completed the acquisition of Polygon Pensions.”
He described the business as “high quality” with “an excellent pedigree and strong client and IFA relationships”.
“Bringing Polygon Pensions into BWCI significantly strengthens our Jersey business and gives us the scale, skills and governance capability to support the next phase of pensions growth on the island,” Mr Ainsworth continued.
“Most importantly, this is a business that aligns strongly with our culture and long-term approach, placing technical excellence, client service and integrity at the centre of everything we do.”
There will be no immediate change for Polygon Pension’s clients, introducers or service arrangements, with BWCI Group stating that: “The combined business will focus on ensuring a smooth integration, maintaining continuity of service, and identifying opportunities to enhance offerings over time.”
