APG Group will sell Inadmin, the DC pension administration subsidiary, to RiskCo. Inadmin's activities no longer fit the strategic course of APG. RiskCo will take over all activities of Inadmin. An agreement for this transaction has been signed on Friday 23rd March. Closing is expected at the end of May after approval of the applicable bodies.
RiskCo, founded in 2005, develops systems for managing long-term, complex administrations such as those of pension funds and life insurers. Initially, the company sold these solutions to pension fund - and insurance administrators.
Wim Henk Steenpoorte, COO and member of the Board of APG said: we are glad to announce this transaction which will create a solid and progressive company. This is good for the clients and personnel of Inadmin. APG will continue to serve their larger pension fund clients with class leading and innovative investment and administrative and customer service solutions. There will be no redundancies as result of this transaction, location will remain Amsterdam.
RiskCo developed systems for managing complex, long-term administrations of pension funds and life insurers and is positioning itself as the high-tech, low-cost alternative to in-house pension administration. RiskCo has brought down the cost of maintaining these complex, always-changing administrations by applying its proprietary software and architecture to create 100% transparency. This allows for faster analysis, easier compliance reporting and better forecasting. RiskCo has 90 employees and has offices in the Netherlands, Canada and Portugal.
For more information please visit www.riskco.nl