30 actuarial advisory firms from across the globe have teamed up to launch Global Actuarial & Consulting Services (GLOBACS), a global network that unites the offerings, footprint and expertise of its members.
Roughly 20 years ago, actuarial advisory firms based in Europe and North America joined forces to establish EURACS (European Actuarial & Consulting Services)* and NORACS (North American Actuarial & Consulting Services). Under the flag of the umbrella associations members firms work closely to deliver cross-border pensions, benefits and insurance solutions to their international clients, as well as sharing technical expertise and best practices. On the back of the network’s value added, Asian actuarial specialists recently decided to follow suit and established APACS (Asia Pacific Actuarial & Consulting Services).
The launch of APACS triggered the association to join the three networks together under a new worldwide brand, GLOBACS. “With an expanding membership (currently numbering over 30 firms) throughout Europe, Africa, North America, Asia Pacific and Australasia, and other contacts covering South America and the Middle East, GLOBACS provides the clients of member firms with truly global advice and services from consultants who are each innovative experts in their local markets,” states GLOBACS on its website.
“Today’s business environment is becoming increasingly globalised, making it more important than ever for firms to find ways to collaborate across borders without losing their independence. I’m therefore very pleased to announce the creation of GLOBACS which will act as an effective global umbrella brand for our various actuarial and consulting services networks around the world,” comments Colin Mayger, Partner at Barnett Waddingham and EURACS Chairman-elect.
Barnett Waddingham, one of UK’s largest independent firm of actuaries and consultants, serves as the UK representative of GLOBACS.
* EURACS consists of more than 1,000 qualified actuaries, consultants and other business professionals.