Insurance: P-Solve buys UK's Meridian

The acquisition will be renamed P-Solve Meridian and will operate from offices in London and Boston, USA.

P-Solve was interested in the data and expertise developed by Meridian since it was formed 26 years ago by David Osborne. Osborne will remain with the company but will hand over his role as CEO to Kate Miller.

P-Solve Vice Chief Executive Jack Berry says: "While pensions and insurance have quite specific investment needs, there are clearly synergies and similarities which, we believe, can benefit our clients."

Meridian's investment accounting software and universe reporting business, used by the insurance industry since 1984, will be strengthened by integrating with CAMRADATA Analytical Services, the institutional data, analytics and reporting business within the P-Solve group.

CAMRADATA Managing Director Steve Butler said: "Meridian's data and reporting products gives us extra depth and resources to serve our clients in the institutional investment market."

Kate Miller hinted at the benefits being part of a much larger entity will bring: "P-Solve's significant experience in investment research, asset allocation and using derivatives to manage risk will help us do this, especially in the current, challenging market conditions."