UK – Jardine Lloyd Thompson has won a five-year pensions services contract from wealth management company AMP, which could be worth up to 3.5 million pounds (5.7 million euros).
“Jardine Lloyd Thompson Employee Benefits Group is pleased to announce that it has agreed in principle a new contract for the provision of services to a range of AMP Group products,” JLT said in a statement.
“The contract, which will run for up to five years, is worth up to 3.5 million pounds,” said the UK-based risk management and employee benefits company. Its UK employee benefit unit has annual revenues of around 50 million pounds.
The services cover defined benefit schemes of AMP NPI and AMP London Life and corporate defined contributions schemes of AMP Pearl. The contract covers more than 5,000 members.
“This contract underlines our strong market position in the provision of Group Pension Services to the life sector,” said Duncan Howorth, managing director of JLT’s Financial Institutions division.
“We are delighted to extend our relationship with AMP and to work with them to deliver both strong customer services and value to their policy holders”.
JLT made a pre-tax profit of 50.9 million pounds, up 20% on 2001’s 42.3 million pounds – the last period for which figures are available.
AMP is a financial services company which operates in Australia, New Zealand and the UK with more than 265 billion Australian dollars (142.7 billion euros) in assets under management. Last month it said Peter Willcox would replace Stan Wallis as chairman .