John Kerr has bid goodbye to the Kerr Henderson name after the name was included in the sale of the company’s pensions and wealth management business to Ashtree Financial.
Following the sale, the firm’s employee benefits and general insurance businesses this week became part of the Incorporate Brand – a business Kerr (pictured right) established along with Audrey Spence in 2017.
While Kerr is no longer with Kerr Henderson after being with the business for nearly 30 years, he will continue to lead the Incorporate Group.
Sixty year history
Speaking to Health & Protection about the company’s plans and reasons for the sale, Kerr explained that the business was first launched back in 1962 by his father Bob as a specialist corporate pensions advisory firm in Northern Ireland.
Over time, he added, it expanded its services to include actuarial services, employee benefits, and general insurance services, ahead of him joining the company in 1995 and eventually taking over its management.
According to Kerr, the 2017 partnership with Audrey Spence (pictured left) of Independent Healthcare Solutions NI Limited (IHS) enabled the pair to form Incorporate Benefits, with this business growing rapidly and becoming a significant player in employee benefits in Northern Ireland before expanding across the UK.
Sale to Ashtree Financial
But in order to ensure the success of the firm’s existing wealth management and corporate pensions side of the business, this Spring, Kerr worked with local entrepreneur Michael Blaney on the acquisition of that part of Kerr Henderson by Ashtree Financial.
Kerr explained the foundations of the deal hinged on a partnership between the parties ensuring that the two separate entities could provide a combined approach to the financial and protection needs of individual and companies,.
Following the acquisition, both parties continue to share office premises in South Belfast.
This deal also includes the rights to the Kerr Henderson brand.
Continued expansion
But Kerr added his joint venture with Audrey Spence continues under the name Incorporate Benefits and it will continue expanding its offerings, including a focus on employee wellbeing through the appointment of a new head of wellbeing.
“The remaining Kerr Henderson companies, which provided employee benefits and general insurance services have, as of this past Sunday (1 September) moved into the Incorporate Brand, now called Incorporate Employee Benefits Ltd and Incorporate Insurance Services Ltd respectively,” Kerr explained.
“The joint venture with Audrey Spence will continue to trade as Incorporate Benefits and has recently recruited a head of wellbeing to further expand the proposition to clients.”
Synergy between general insurance and employee benefits
Elaborating on the future for the company, Kerr told Health & Protection he felt that there is some synergy between employee benefits and general insurance.
“This is what I want to work with over the next few years,” Kerr said.
“There’s a natural development of the employee benefits business that can include general insurance as well.
“I think in terms of voluntary benefits, they’re still employee benefits but they sit under the general insurance mantle.
“So that’s why I have kept that general insurance account because I want to see some development building in that area.”