FTI Consulting, Inc. has announced the acquisition of actuarial consulting firm Madison Consulting Group.
FTI Consulting explained that the addition of Madison Consulting Group will expand its property and casualty actuarial and compliance offerings within the Global Insurance Services practice in the Forensic and Litigation Consulting segment.
As part of the transaction, Madison Consulting Group President Dr Mark Crawshaw joins FTI Consulting as a Senior Managing Director, while Tina Knight, Leslie Marlo and John Gleba join as Managing Directors.
Dr Crawshaw began his actuarial career in 1984 and joined Madison Consulting Group in 1988.
His experience reportedly includes loss and loss expense reserve analysis for personal and commercial lines; rate making and profitability studies for personal and commercial lines; expert testimony in rate hearings, reinsurance arbitrations, legislative matters and legal proceedings; and assistance to state insurance regulators in evaluating rate filings, the financial condition of insurance companies and other actuarial matters.
Wendy Shapss, Co-Leader of the Global Insurance Services practice at FTI Consulting, commented, “Disruptions such as regulatory changes, severe weather events, cyber threats, artificial intelligence, self-driving vehicles and ESG compliance, among numerous others, have changed how entities view and mitigate risk.
“We have a great relationship with Mark and his team, and we have a track record of working collaboratively to help our clients. The services they provide complement our existing actuarial capabilities and greatly add to our ability to serve property and casualty insurers.”
Dr Crawshaw added, “FTI Consulting’s platform gives our team an opportunity for growth and is a cultural fit for us. We are excited to bring the breadth of FTI Consulting’s offerings to our existing clients, and we look forward to partnering with our new colleagues to unlock new opportunities.”
