Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 18th of October 2018
August 26, 2008

FRS acquires Iris

by David Masters

Story link: FRS acquires Iris

Brussels-based FRSGlobal has added risk assessment to its portfolio by acquiring Iris, a small risk management firm.

FRS provides consultancy services to banks, including Citigroup, JPMorgan and HSBC, on how to meet financial regulators’ disclosure demands in different countries.

Regulators have recently started requiring banks to provide detailed information on legal and financial risks across the company, leading to FRS needing to offer advice on how to prevent risks.

The acquisition of Iris will allow FRS to offer integrated advice on financial and risk disclosure in countries around the world.

FRS has doubled its annual profits in the past two years, and is expected to make €40 million this year. It is 70% owned by Carlyle Group, and 30% owned by Kennet Partners.

 

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