International actuarial firm acquires MSA Research

Valani Global, an actuarial modeling and financial reporting firm with operations in Canada and the United States, has acquired MSA Research, a Canadian analytical research firm specializing in the insurance industry.

Terms of the deal were not disclosed.

“This acquisition combines MSA’s strong market presence with Valani Global’s expertise in the life and health insurance sectors, enhancing our IFRS-17 capabilities,” MSA Research CEO Joel Baker said of the deal Thursday.

“We are excited to join Valani Global, which recently expanded its team by acquiring P&C actuarial firm JSCP (Joe S. Cheng and Partners). Valani Global has a robust team of 38 actuarial professionals across Canada and the U.S., including 29 fully qualified actuaries and eight associates.”

Founded in 2019 by Nazir and Sarah Valani, Valani Global’s core services include actuarial modelling, financial reporting, and tailored Moody’s Analytics solutions. The firm is a member Moody’s Global PartnerAlliance program, a network of experts delivering support and service to Moody’s Analytics clients.

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Valani Global’s acquisition of MSA Research follows closely on the heels of its recent acquisition of JSCP, an actuarial consulting firm to the P&C insurance industry. Before the MSA deal, Valani Global’s acquisition of JSCP expanded its annual revenues to more than $20 million.

JSCP was established in 1991 and serves clientele across Canada, the U.S., and the Caribbean, including Cayman, Curaçao, Jamaica, Nevis, St. Kitts, and Trinidad and Tobago. The firm also has clients in Bermuda, France, India, Kenya, and the U.K.

The deals expand Valani Global’s portfolio to include both the P&C and life and health insurance sectors.

“The synergy between the three companies solidifies our position as a one-stop-shop for actuarial services,” Valani Global CEO Nazir Valani said in a public comment.

Founded in 2003, MSA Research is an independent research firm focusing on Canada’s insurance market. It is the primary source of financial data for 95% of the Canadian insurance sector through its MSA Researcher Platform.

MSA also organizes executive-level events in Canada’s P&C insurance industry, including the National Insurance Conference of Canada, InsurTech North, and CatIQ Connect.

“This transaction takes MSA to the next level and affords MSA and its many clients strong analytical and actuarial capabilities and enhances our offerings to both the P&C and life/health markets,” Baker commented in a LinkedIn post. “I, and my new colleagues from Valani Global and their other recent acquisition, JSCP (led by Joe Cheng) look forward to connecting with you over the coming days, weeks and months.”

Feature image courtesy of iStock.com/ArLawKa AungTun