XPS Group has agreed to acquire actuarial consultancy APR Actuarial Solutions for an undisclosed amount.

The acquisition of the consultancy, which specialises in advising insurers and financial institutions, aims to accelerate XPS Group’s diversification strategy, and expand its financial service consulting and administration capabilities.

APR was founded in 2006 and provides consultancy services to more than 45 insurers and financial sector clients, including “most of the UK’s top 10 insurers”.

It has more than 70 client-facing staff, which will combine with XPS Group’s existing Insurance Consulting team to provide greater scale and capabilities in delivering insurance consulting services.

The firm also has client relationships with over 20 general insurers, with XPS Group stating this would enable it to become a broader insurance consulting provider.

The acquisition is expected to complete on or around 31 July 2026 and builds on XPS Group’s acquisition of UK insurance consultancy business Polaris in February 2025.

“We are delighted to announce our transaction with APR, and we look forward to welcoming our new colleagues to XPS,” commented XPS Group co-CEO, Paul Cuff.

“We have been admirers of the APR business for some time, with its strong culture, its highly talented people and its deep relationships in the insurance market.

“With this transaction, XPS will have doubled our total addressable market to £6bn+ in the space of less than two years, through strategic acquisitions and senior recruitment.

“We are very excited about what the future holds as we become a broader financial services firm providing outstanding client service to pension schemes and insurers alike.”

APR founding partner, Roger Austin, added: "Since founding APR 20 years ago, we have been guided by our purpose: nurturing our talented people and delighting our clients.

“When looking at potential strategic partners, we focused on two key factors: cultural fit, and clear strategic growth opportunities. We believe that XPS is a great match against both and are delighted with our new home.

“We are excited about the opportunity to jointly deliver a much more comprehensive service to the insurance sector.”

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