Milliman Inc. acquired McGinn Actuaries Ltd., an actuarial consultancy firm that specializes in multiemployer pension plans, confirmed Peter Sturdivan, principal and consulting actuary at Milliman.
McGinn, based in Anaheim, Calif., will become an office of Milliman. The acquisition is expected to go into effect Dec. 31. Terms were not disclosed.
“The acquisition gives Milliman another Southern California office, with the Anaheim office focusing on serving plan sponsors including multiemployer trusts, corporations and public-sector entities,” Mr. Sturdivan said in an e-mail. “The Anaheim office will provide consulting services to defined benefit plans, defined contribution plans, and health and welfare plans.”
Milliman already has a Pasadena, Calif., office that focuses on property and casualty insurance.
“We see tremendous synergies between our firm and Milliman,” said Christopher McGinn, president and CEO, in the release. “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.”
Mr. Sturdivan and executives from McGinn could not be reached for additional information.