VANCOUVER AND MONTRÉAL, Aug. 20, 2012 /CNW Telbec/ – PBI Actuarial
Consultants Ltd (PBI) and Actuaires-Conseils Bergeron & Associ s inc.
(ACBA) announced today that they have reached an agreement for PBI to
acquire ACBA. Following this transaction, ACBA partners and employees
will be integrated with those of PBI. The integration date is October
1st, 2012.

Established in Montr al, Canada, ACBA offers consulting services related
to pension plans, investments, group benefits and compensation. ACBA is
a signatory of the principles for responsible investments, and is
recognised for its solutions and initiatives to support pension plan
fiduciaries and sponsors in protecting their pension plans’
sustainability and prosperity. As of July 31st, 2012, ACBA provided
advice to more than a hundred clients comprised of retirement
committees, unions, associations and employers.

“The expansion of our activities in Qu bec remains one of our strategic
priorities”, indicated Tony Williams, President of PBI. “This
transaction allows us to strengthen our expertise and to expand our
activities in Quebec, adding a proven, high caliber team that positions
the company well to continue its growth”.

“We join the ranks of PBI with pride and enthusiasm”, stated Pierre
Bergeron, ACBA senior partner who will be responsible for the firm’s
business development in Quebec.

“This integration gives us the resources to achieve our professional
goals, which include the ongoing support of defined benefits pension
plans in Canada. We will continue to provide innovative solutions to
address financial risk and ensure sound management of current pension
plans. We will utilize our extensive expertise to work with the new
types of pension plans that will soon be set up in Canada, particularly
shared risks and target benefit pension plans. Our experience combined
with that of PBI, will make PBI a Canadian leader in these areas, and
will provide our clients with access to seasoned consultants who are
leaders in their field.”

ACBA was founded in 1992 by Mr Pierre Bergeron. The firm is owned by its
founding senior partner and 3 other employees of the firm. ACBA
includes approximately fifteen employees. For more information on ACBA,
visit the web site www.acba.qc.ca.

PBI was founded in 2008 further to the Watson Wyatt (now Towers Watson)
spin-off of activities related to multiemployer plans. The company is
owned by its three founders (Susan Chortyk, Neil Ramsden and Tony
Williams) and employs approximately forty employees. PBI has two
business locations: Vancouver and Montr al. After the transaction
closing, the company will have more than 50 employees, including 15
actuaries. For more information, visit the web site www.pbiactuarial.ca.

SOURCE PBI Actuarial Consultants Ltd.