Technology solutions provider Charles Taylor has acquired Wisconsin-based mutual management and third-party claims administrator, Aegis Corporation.
Aegis provides both risk pools and self-insureds with bespoke insurance and claims management programs focused on the needs of public entities and municipal organisations.
At its Brookfield, Wisconsin headquarters, some 45 employees oversee insurance programs and manage claims for roughly 200 clients with $350 million in annual premiums under management.
Rob Brown, Group Chief Executive Officer (CEO), Charles Taylor, commented: “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.”
Following the acquisition, Aegis joins the Charles Taylor team of over 3,000 professional around the world, providing its clients with access to Charles Taylor’s full suite of global claims, insurance management, and tech solutions.
Christopher Schaffer, CEO Charles Taylor TPA, 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.”
John Dirkse, President of Aegis, added: “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 U.S. will greatly benefit our clients by allowing us to better serve their unique and complex needs.”
This acquisition comes soon after Charles Taylor’s acquisition of engineering firm SBSA in August of 2020, and also its agreement to acquire the Cosulich Group in October 2020.
Shareholders of Aegis were advised by Evolve Capital Partners on this transaction.