The cleversoft group, a RegTech provider serving the financial services sector, 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 set to close later this month, pending customary closing conditions, and will bolster cleversoft’s Supervisory Reporting division while extending its footprint in the UK insurance market.
FS Assist’s client base spans roughly 350 European insurance companies, ranging from large multinational groups to niche specialist providers, giving cleversoft a substantial and complementary customer pool to build on.
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 acquisition closes, FS Assist’s customers will be able to draw on cleversoft’s wider compliance offering, which includes Supervisory Reporting, Financial Crime Prevention, Financial Messaging and Digital Advisory & Compliance, alongside automation tools delivered through one partner.
Cleversoft is positioning the deal as part of a broader strategy to build a single, comprehensive platform for regulatory compliance and reporting, giving financial institutions a wider range of tools to manage regulatory obligations without needing multiple vendors.
Customer and staff continuity has been highlighted as a priority for the transaction, with the FS Assist team expected to remain in place after closing. Both companies say they intend to combine their teams to pool expertise, strengthen customer support and refine their regulatory reporting tools for insurers.
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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