German broker and consultancy MRH Trowe has established a new holding company, MRH Trowe Benefits, Pensions, Compensation, as part of a strategic repositioning in the occupational pensions market.
The new holding company brings together actuarial services specialist Heubeck, HR and occupational pension consultancy Lurse, and MRH Trowe’s existing pensions and benefits activities, expanding the group’s integrated service offering.
The combined portfolio now covers pension consulting, actuarial services, occupational pension provision and administration, as well as benefits, HR and compensation consulting.
The restructuring follows MRH Trowe’s acquisition of Lurse in 2023 and Heubeck in 2025.
A spokesperson for MRH Trowe told IPE that the aim of the reorganisation is to more closely integrate the group’s services and create a unified offering for clients, particularly large corporate employers.
The group has also appointed a new management team to lead the holding company, bringing together expertise from across MRH Trowe, Lurse and Heubeck.
The management team comprises Susanna Adelhardt, Norman Dreger, Maximilian Evers, Carsten Ganz, Rainald Meyer and Frank Zagermann.
According to MRH Trowe, the executives bring expertise spanning actuarial services, occupational pensions, compensation, administration, international consulting and strategic HR advisory services.
Norman Dreger, board member at MRH Trowe, said the consultancy now has the opportunity to approach pensions, benefits and compensation consulting “in a truly holistic way”.
“This is a unique selling point among German providers and, at the same time, the added value our clients need in an increasingly complex HR landscape,” he added.
Changing business models
German consultancies are adapting their business models in response to a pensions market shaped by regulatory reforms, evolving employer requirements, technological developments and ongoing consolidation.
Firms are increasingly seeking to combine expertise across capital markets, tax and labour law while taking a broader view of retirement provision and employee benefits.
MRH Trowe is pursuing both organic growth and expansion through acquisitions, according to the spokesperson, who added that Lurse and Heubeck will retain their brands because of their strong market recognition.
The integration of services forms a key part of the strategy for MRH Trowe’s benefits division. The spokesperson said the group is the only provider of occupational pension services “with German roots”, contrasting it with international competitors such as WTW and Mercer.
The acquisition of Heubeck last year was intended to strengthen MRH Trowe’s position as an alternative to UK- and US-based consultancies serving occupational pension schemes and Germany’s professional pension institutions (Versorgungswerke).
