Isio has confirmed that it has completed its acquisition of the insurance and risk settlement specialist, K3 Advisory Limited, having received regulatory approval.

Isio announced plans to K3 Advisory in October last year, in order to enhance its risk settlement capabilities, with a focus on overall value and efficiency, by incorporating K3's experience in broking transactions for small to medium schemes.

Between Isio and K3, the two teams have led on around 20 per cent of all risk settlement transactions by number in a record-breaking year for risk settlement transactions.

Commenting on the acquisition, Isio partner, Steve Robinson, said: “We are very excited to have the K3 team officially on board and are looking forward to working with them to broaden the risk settlement services we offer to pension schemes and insurers.

"With the increased capacity and scale, we will serve more clients with a greater range of services.”

K3 lead and Isio partner, Adam Davis, added: “We have enjoyed strong success over the past six years and are now in a position to grow to the next level as part of Isio.

"With so many defined benefit pension funds in stronger funding positions, there has never been a better time for them to start thinking about the endgame. We will now be able to do even more to support schemes in this important phase.”

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