Milliman, Inc. announced on Monday that it is acquiring McGinn Actuaries Ltd., an Anaheim-based consultancy specializing in multiemployer pension plans.
The acquisition will enhance Milliman’s foothold providing retirement consulting services in California, Milliman said in a statement.
“Established by Daniel F. McGinn, a consulting actuary renowned for his contributions to the defined benefit retirement plan field, McGinn has had a strong reputation in the multiemployer industry since it’s foundation in 1974,” said Peter Sturdivan, principal and consulting actuary with Milliman. “McGinn’s independence and pedigree in the multiemployer practice make them a perfect candidate to join Milliman, given our position as a market leader and the two firms’ shared commitment to quality work and exemplary client service.”
In addition to serving the multiemployer market, McGinn also works with single-employer plans, defined contribution plans, and health and welfare plans—all areas of strength for Milliman.
“We see tremendous synergies between our firm and Milliman,” says president and CEO, Christopher McGinn. “We expect our clients will continue to enjoy the same quality service they have become accustomed to, while also benefiting from the scale and resources available through a global organization like Milliman.”
Milliman is among the world’s largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property/casualty insurance, life insurance and financial services, and employee benefits.