Cleversoft group, a RegTech provider serving the financial services industry, has signed a definitive agreement to acquire FS Assist, a UK-based specialist in regulatory reporting software for insurers and pension providers. The deal is expected to close later this month, pending customary closing conditions.
The acquisition is designed to strengthen cleversoft’s Supervisory Reporting business and broaden its footprint in the UK insurance market. FS Assist’s platform is currently relied upon by roughly 350 European insurance firms, ranging from large multinational groups to niche specialist providers, giving cleversoft access to a substantial and complementary customer base.
FS Assist has built its reputation as an early adopter of XBRL reporting, with established solutions covering Solvency II, IORP and Lloyd’s Syndicate reporting requirements. Once the transaction closes, its customers will be able to tap into cleversoft’s wider regulatory compliance offering, spanning Supervisory Reporting, Financial Crime Prevention, Financial Messaging and Digital Advisory & Compliance, alongside additional automation tools, all through one provider.
Cleversoft has said continuity for both staff and clients is central to how the deal will be handled. The plan is for the whole FS Assist team to stay on after the acquisition completes, keeping existing expertise and client relationships intact. The two organisations will work together to share knowledge and improve regulatory reporting support for insurance customers going forward.
Cleversoft is a RegTech company that provides regulatory compliance and reporting technology to the financial services sector. The planned purchase of FS Assist fits into its broader strategy of building a single, comprehensive platform that helps financial institutions manage regulatory demands through one partner rather than multiple vendors.
Cleversoft Founder & CEO Florian Clever said, “FS Assist has built an impressive reputation based on deep regulatory expertise, long-standing customer relationships and exceptional service quality. Their strong position in the insurance market and highly complementary customer base make them a perfect fit for cleversoft. Together, we can offer even greater value to customers while continuing to invest in innovation, automation, and regulatory excellence.”
Cleversoft Managing Director Supervisory Reporting Erwin van Dixhoorn said, “FS Assist brings deep expertise in Solvency II, IORP and Lloyd’s reporting, backed by decades of experience serving the insurance industry. By combining our strengths, we can further enhance our supervisory reporting capabilities and support insurers more effectively across Europe.”
FS Assist Director Pete Comber said, “Joining cleversoft marks an exciting new chapter for FS Assist. Our customers appreciate practical solutions, regulatory expertise, and close collaboration. By becoming part of cleversoft, we can preserve these strengths while giving customers access to a broader set of capabilities and long-term innovation.”
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