Isle of Man-based international pensions firm Boal & Co is celebrating surpassing the US$ 1 billion mark for assets held in client pension schemes.

In recent years the company has attracted a number of large corporations to establish pension schemes in the Island for employees based in 113 countries around the world, acting as trustee and administrator.

Locally, the firm oversees company and personal pension schemes for Isle of Man residents.

Managing Director Gary Boal based at the company's headquarters in Douglas, has described crossing the one-billion-dollar landmark for assets held in Jersey and Guernsey as well as the Isle of Man, as an important milestone for the company.

He said it was a testament both to his team, which works with two local life companies, and what he describes as the 'attractive international pensions proposition' the Isle of Man developed in 2000.

The firm has now set is sights on doubling the value of its pension scheme assets, through existing clients and new business and associates.