Charles Taylor acquires TPA Aegis to expand US business
Charles Taylor has bolstered its adjusting business and insurance management services in the US with the acquisition of Aegis Corporation, a Wisconsin-based mutual management and third-party claims administrator.
Aegis provides risk pools and self-insureds with customised insurance and claims management programmes focused on the needs of public entities and municipal organisations. The business oversees insurance programmes and manages claims for approximately 200 clients with $350 million in annual premiums under management.
Following the deal, Aegis’ clients will have access to Charles Taylor’s full suite of global claims, insurance management, and technology solutions.
The acquisition follows shortly after the acquisition of SBSA in August 2020 and the agreement to acquire the Cosulich Group in October 2020.
Rob Brown, group CEO of Charles Taylor, 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 US business.”
Christopher Schaffer, CEO Charles Taylor TPA, added: “The addition of Aegis is exciting due to the strength of both the cultural and the strategic fit. Both Charles Taylor and Aegis have forged long-term, trusted partnerships with clients through unrivaled 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.”
John Dirkse, president of Aegis, said: “We look forward to joining Charles Taylor and leveraging the combined resources, expertise and technology to enhance our claims management offering and continue to create favorable claims outcomes for our clients. We believe Charles Taylor’s client-centric approach, experience with customized insurance management, and commitment to high quality growth in the US will greatly benefit our clients by allowing us to better serve their unique and complex needs.”
