The move follows the company’s evolution to become a full-service employee benefits business, adding new flexible benefits and actuarial risk divisions in the last two years. The company says it recorded a 24 per cent increase in turnover last year.
Lorica has extended its areas of operation beyond its historic background of health and wellbeing. Its six core offerings are now corporate pensions (workplace savings and actuarial); flexible benefits; benefit and reward consulting; wealth management; employee financial education, as well as health, risk and wellbeing.
Tobin Murphy-Coles, director marketing and flexible benefits, says: “Our company’s services and brand have changed significantly as we moved from being a brokerage to a full-service employee benefits business.
“The transition has helped us to record an increase in revenues across all business lines in the last financial year; a significant part of this increase comes from products and services that we didn’t offer 2 years ago.”