Dublin, 08 April 2022
Mercer has announced today that it has been appointed by Acorn Life to provide outsourced investment management services across a wide range of investment activities. Under the relationship, Mercer will provide ongoing advice and bespoke portfolios for Acorn Life’s unit-linked life and balance sheet assets, giving the insurer increased asset class flexibility, broader investment manager access and implementation efficiencies over its range of investments.
Acorn Life, who manage over €1bn in AUM on behalf of its clients in Ireland, was seeking to diversify its portfolios by appointing a provider that offers access to highly rated global managers through a robust risk and governance framework. With that in mind, Acorn Life selected Mercer for its, forward-looking asset manager research, the depth and breadth of its investment and analytical expertise, and its market-leading implementation platform.
Jennifer Loftus, Chief Financial and Risk Officer of Acorn Life, said: “We set out to find a provider that could provide us with well-diversified portfolios, high-quality investment management and ongoing investment advice and we were impressed by the capabilities that Mercer offered. This arrangement allows us to provide cost efficient diversified portfolios to our clients that tap into highly rated, global managers with a robust governance and risk management framework”.
Mercer has more than €366 billion1 in assets under discretionary investment management globally, providing outsourced investment solutions to a broad range of clients that include wealth managers, not-for-profits, life insurers and pension schemes. With this appointment from a 100% Irish-owned life insurance business, Mercer is not only growing its Investment Solutions business, but is also further expanding and diversifying its footprint in Ireland.
Commenting on the appointment, Rob Hayden, Head of Mercer Investment Solutions Ireland, said: “We have worked closely with Acorn Life over the past year to build a bespoke fund range that meets both their needs and the needs of their clients, while also providing the right level of diversification and risk management for their investment strategy. This appointment illustrates both the flexibility and strength of the investment capabilities that Mercer offers to life insurance companies, as well as wealth managers, private banks, fund distributors and our traditional pension clients. We are excited to work with Acorn Life on this new fund range and we look forward to a long-term relationship.”
He added: “Global investment markets are growing increasingly complex and life insurance businesses face more pressures on their business than ever before. Mercer Investment Solutions offers specialist advice in this space along with an effective, outsourced investment management solution that can meet its insurance clients’ needs in today’s market environment”.
Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 83,000 colleagues and annual revenue of nearly $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit mercer.com. Follow Mercer on LinkedIn and Twitter.
Established in 1989, Acorn Life is a 100% Irish-owned life assurance company offering protection, savings and investment products to the Irish public. Acorn Life provides a wide range of financial services and is dedicated to excellence through advanced administration systems and quality customer service Acorn Life has Assets under management of >€1bn and premium income of €116m during the year (Source: Acorn Life, March 2021)
1 Source: Mercer, as of 31 December 2020.
Issued in Ireland by Mercer Global Investments Europe Limited, trading as Mercer. Mercer Global Investments Europe Limited is regulated by the Central Bank of Ireland
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