Insurance technology provider Charles Taylor has taken over Wisconsin-based mutual management and third-party claims administrator Aegis.
Financial terms of the deal were not revealed.
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The deal will help customers of Aegis to avail Charles Taylor’s global claims, insurance management, and technology solutions.
Charles Taylor TPA CEO Christopher Schaffer called Aegis a “cultural” and “strategic fit”.
“Both Charles Taylor and Aegis have forged long-term, trusted partnerships with clients through unrivalled insurance expertise, and this partnership will strengthen Charles Taylor’s position in the U.S. mutual management and public entity markets while greatly enhancing Aegis’ claims management offering,” he noted.
Aegis offers risk pools and self-insureds insurance and claims management programmes focused on the requirements of public entities as well as municipal organisations.
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By GlobalDataThe firm has a staff headcount of around 45 and nearly 200 clients with $350m in annual premiums under management.
Charles Taylor group CEO Rob Brown said: “Mutual management and claims handling have been essential parts of Charles Taylor’s services for more than a century. The addition of Aegis further bolsters our capabilities in this segment and also builds our ability to serve public entities.
“This acquisition aligns with our Group-wide strategy and provides us with the scale, expertise and capabilities to accelerate the rapid growth of our U.S. business.”
With a workforce of around 3,100, Charles Taylor has operations across 30 countries in Europe, the Americas, Asia Pacific, the Middle East and Africa.
The firm recently inked an agreement to acquire Lab Cosulich Consultants and CMC Marine (together Cosulich Marine Consultants Group).
Moreover, last year, Charles Taylor snapped up engineering and architectural firm Solutions Before, Solutions After (SBSA).
