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The Actuary The magazine of the Institute & Faculty of Actuaries

Towers Watson ups stake in SA’s Fifth Quadrant

Towers Watson has increased its shareholding in Fifth Quadrant, the independent South African actuarial and employee benefits consultancy, from 20 per cent to 40 per cent, and has appointed Nigel Biggs as managing consultant.

The firm, which formed a strategic alliance with Fifth Quadrant in June 2008, has also agreed to increase this shareholding to in excess of 50 per cent within the next year. The companies have signed a definitive agreement effective from 1 March 2011.

In line with its increased shareholding the firm has appointed Nigel Biggs as managing consultant of the Towers Watson / Fifth Quadrant operations in southern Africa. Biggs previously worked at Towers Watson as a consulting actuary before joining Unilever in 1997.

The agreement follows Towers Watson’s recent acquisition of EMB, the non-life consulting and software company.

Fifth Quadrant employs 73 staff in Johannesburg and Cape Town, including 20 actuaries. Its core business is the provision of independent advice to institutional clients in the areas of actuarial services, retirement fund consulting, investment consulting and health benefit consulting.