Jonathan Punter

Punter Southall has launched a defined benefit (DB) scheme consolidator in a bid to allow small schemes to cut their running costs, reduce risk and improve benefit security and governance.

Xafinity is set to buy the actuarial, investment consulting and administration businesses of Punter Southall Group in a shares and cash deal worth £153m.

Punter Southall Group has bought out its minority shareholder after acquiring the 21.6% stake in the firm owned by South African financial services group, Sanlam.

The WTL International Retirement Benefits Scheme's claim of breach of contract and negligence against Scottish Widows has been rejected in the courts.