Alexander Forbes acquires Mexican actuarial consultant

Alexander Forbes, the risk management and financial planning group, is continuing its offshore expansion drive with the acquisition of actuarial and employee benefits company Bufete de Consultor'ia Actuarial SC.

This is its first acquisition of an actuarial consultancy outside of SA. No figure was disclosed for the value of the transaction.

David Batchelor, the Alexander Forbes Director responsible for Latin America, says the acquisition gives the group a better balanced business in Mexico, with Bufete`s actuarial and benefits consultancy expertise complementing its own in risk services.

Bufete founding partner Juan Jos'e Sol'orzano says he sees significant benefits for Bufete`s clients in aligning with a larger organisation in Mexico. "We feel that Alexander Forbes provides both our clients and our company with the greatest opportunities to deliver expanded, professional services in the future across all business streams."

Alberto Espinosa, Mexico country head for Alexander Forbes, says the acquisition of Bufete provides both sides with the opportunity for cross selling between the actuarial and benefits consultancy and the risk services side of the combined business.

Bufete is an actuarial and benefits consultancy partnership employing 68 people and based in Mexico City. For the last full year for which figures are available, Bufete had consulting revenues of approximately US$2.5 million.