Acquisition of insurance-focused consultancy underlines Capco’s continued commitment to growth in the sector
Capco acquires Hartford-based consultancy. (Credit: Pixabay/Gerd Altmann.)
Capco, the global management and technology consultancy, has announced the acquisition of NEOS (‘NEOS’), a Hartford, CT based consultancy focused on helping leading insurance organizations drive transformational change.
The transaction will complement and extend Capco’s growing insurance services. NEOS’s leadership team, including Founder and Managing Partner Ernst Renner, and its employees will be joining Capco. Financial terms were not disclosed.
Specializing in working with clients that offer life, annuities, retirement, employee benefits, and property and casualty insurance, NEOS provides consulting and delivery services to solve its clients’ strategy, operations, data, and technology challenges.
Lance Levy, CEO of Capco, said: “The acquisition expands our capabilities and presence in the insurance sector, which is a key component of our growth strategy. This continues our focused approach of using targeted acquisitions to enhance specific capabilities that offer a strong business fit, and an opportunity to accelerate our growth. We have recently established insurance practices which we will grow through the addition of seasoned practitioners and teams. I am excited to welcome Ernst, and the NEOS team, to the Capco family.”
Michael Pugliese, Managing Partner of Capco’s US business, said: “NEOS is an established company with strong growth potential and a highly respected team with extensive experience and expertise in the insurance space. The acquisition will enable Capco to expand our footprint in the insurance sector, and to offer additional services to our current financial services clients that have insurance divisions.”
Ernst Renner, CEO and Managing Partner at NEOS, said: “Capco’s focus on business transformation and building solutions to deliver business value aligns perfectly with our own approach. Our decision to join Capco will expand our delivery capability and depth in areas we have been growing, notably digital transformation and data, and accelerate our ability to support our clients in those areas.”
Source: Company Press Release