Standard Life sells employee benefits business

The acquisition will see 31 corporate customers transfer to Benefex, meaning more than 140,000 employees will be added to Benefex's platform, while the Vebnet team who have worked on these customers will also join Benefex. As part of the deal, Standard Life and Benefex will enter a strategic partnership where the "flexible" benefit services currently provided to employers by Standard Life will transfer to the Benefex employee benefits platform. Gail Izat, managing director of workplace and retail intermediary, Standard Life, said: "Employee flexible benefit solutions are increasingly ...