Swedish pensions consultancy Söderberg & Partners announced it has struck a deal to buy Norwegian pensions and insurance broker Gabler Insurance Brokers (GIB) from the Gabler group.
Söderberg & Partners said the acquisition of the pension and insurance broking operation was an important step in its growth strategy within Norway, where it intended to expand its advisory operations to all the country’s regions.
Jørn Gisvold, chief executive officer of Söderberg & Partners’ Norwegian business, said: “This company is strategically important to us, because the acquisition will mean we are represented with our range of services in Bergen and the western region.
In addition, Gabler Insurance Brokers had expertise in purchasing and operating large pension and personal insurance programmes for large groups, he said.
The Swedish firm said GIB, which has been operating since 2015, generated a turnover of NOK16m (€1.5m).
Aksel Bjerkvik, CEO of Gabler, said that for his firm, the move to sell off GIB was the result of a strategic choice to put more focus on its core business of pension and investment services.
“We therefore believe that Söderberg & Partners will be a better owner for Gabler Insurance Brokers in the future, both for the employees and the customers,” he said.
Gabler said that it would maintain a strategic collaboration with Söderberg & Partners in areas where the two firms could jointly provide customers with a stronger offering.
Söderberg & Partners said the acquisition meant that eight employees had joined it on 1 October.