Aegis offers risk pools and self-insureds with customised insurance and claims management programmes
Charles Taylor, a US-based provider of services and technology solutions to the global insurance market, has acquired Aegis Corporation (Aegis), a Wisconsin-based provider of mutual management and third-party claims administration.
Financial details of the acquisition have not been disclosed.
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 US business.”
Aegis offers risk pools and self-insureds with customised insurance and claims management programmes that are focused on the specific requirements of public entities and municipal organisations.
Based in Brookfield, Wisconsin, Aegis has around 45 employees who oversee insurance programmes and manage claims for around 200 clients with $350m in annual premiums under management.
Charles Taylor TPA CEO Christopher Schaffer said: “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.”
Charles Taylor’s team consists of more than 3,000 professionals across the world.
Aegis clients will have access to Charles Taylor’s complete suite of global claims, insurance management, and technology solutions.
This deal comes following the acquisition of SBSA in August 2020 by Charles Taylor and the agreement to acquire the Cosulich Group in October 2020.
Evolve Capital Partners advised Aegis’ shareholders on this transaction.