January 5, 2016 – A Westminster, CO company has acquired Aon Hewitt’s absence-management administration business, making it the second-largest provider of extended-leave services in the United States.
Reed Group Ltd., a 530-employee company that is owned by Guardian Life Insurance, will triple its workforce and bring on 200 blue-chip customers as part of the transaction, which has been in the works for several months, CEO David Roberts said.
It also will allow give Reed Group the infrastructure to pursue the business of the country’s biggest firms, which it had not had before the deal, he said.
“This puts us right in the conversation for the largest U.S. companies,” Roberts said, noting that Reed Group becomes the No. 2 player in the absence-management market now. “We’ve become a business twice the size of what we were the day before.”
Absence-management administration is a growing field, as more companies offer paid maternity and paternity leave, extended sick leave and other benefits in order to attract the best workers.
Reed Group — founded in 1991 as a business that published content on how long people undergoing certain procedures should expect to be out of work — manages those absences for large firms.
Aon had wanted to sell its absence-management business in order to concentrate on its other divisions, including risk-management, insurance brokerage and human resources, Roberts said.
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