SWITZERLAND – Employee benefits firm Allea has joined Milliman Global, the consulting network that includes firms such as Fixage in France and Hymans Robertson in the UK.
“Our member firms and clients will benefit from the expanded reach Allea provides, particularly in terms of providing multinational consulting services in Switzerland, Liechtenstein, and throughout the rest of Europe,” said Milliman chair Dominique Piermay.
Allea’s joining comes as the organisation focuses on “strengthening its presence in European markets”, Milliman said in its annual report for 2004.
The report says its member firms in Europe have worked with government and legal entities to monitor “issues and activities” regarding the feasibility of a pan-European pension fund.
The report also argues that its consultants are already working on how to prepare clients best, should pan-European pensions become a reality.
“While recent legislation and court cases have improved the likelihood that such schemes will eventually be adopted, there is still much work to be done in terms of local tax legislation,” it says.
Based in Zurich, Allea provides actuarial, administrative, software development, and consulting services in pensions and employee benefits.
Its managing director Urs Barmettler said: “Joining Milliman Global allows us to expand the scope of international services we provide to clients.”
“We look forward to a mutually beneficial relationship as we pursue multinational client projects with other Milliman Global firms,” he added.
Milliman’s member firms had a combined fee income of about $521m (€406m) in 2004.