Key Findings & Highlights:

Aptia is a provider of employee benefits and pensions administration services, with offices in the U.S. and U.K., supported by shared services in India and Portugal. It manages programs covering 7m+ people (~1m for H&W) and serving ~1.1k clients. Aptia was founded and incorporated in June 2023 by the acquisition of the U.S. health and benefits administration and U.K. pension administration segments of Mercer, a business of Marsh McLennan (NYSE: MMC), by Bain Capital Insurance. The acquisition transaction occurred on January 1, 2024.

The acquisition merged one of the largest health and benefits administration platforms in the U.S. and the largest pensions administrator in the U.K., enabling the company to launch with significant scale, resources, deep technical expertise, proven solutions, and key insurer relationships. The current platform leverages proprietary technology and Mercer Marketplace 365+, the most recent generation of the platform prior to transitioning to Aptia. The transaction included 3.5k+ employees across the U.S., U.K., India, and Portugal that provide specialist solutions focused on the skills and technology required to manage the health and wealth administration for client employees, members, and policyholders. There was a 95% client retention following the move from Mercer. As of H1 2024, Aptia has 362 benefit administration clients which includes active benefits administration, retiree group administration, retiree individual exchange, dependent eligibility verification, total rewards statements, and operations support services.