Charles Taylor Adjusting (CTA) has announced its acquisition of Criterion Adjusters – a move that takes the international loss adjuster into the high net worth adjusting market.
The purchase includes Criterion Surveyors, a high net worth-focused pre-risk survey business, and Criterion Claims Management, a specialist claims third party administrator (TPA). The businesses fit well with CTA’s existing risk engineering business and will help CTA increase its presence in specialist property and casualty loss adjusting markets.
“I am delighted to welcome our new colleagues from Criterion Adjusters to Charles Taylor Adjusting. The acquisition is part of our strategy to diversify our loss adjusting business into closely-related, specialist P&C markets,” said Damian Ely, CEO, Charles Taylor Adjusting.
Criterion Adjusters offers growth opportunities for CTA. It brings several new clients and handles a significant share of the UK’s high net worth property, fine art and antique-related claims, as well as being the preferred loss adjuster to many specialist insurers.
The company will continue to trade under its existing brand name and will be led by its current management team. Criterion’s clients will continue to be served by their existing loss adjusters, using the same service standards and operating model.
“Charles Taylor Adjusting is the ideal home for Criterion Adjusters,” commented Chris Monks, CEO, Criterion Adjusters. “CTA has a tremendous reputation for delivering specialist, highly technical loss adjusting services which mirror our service and expertise-driven approach. The strength of CTA’s brand, its global network and high-quality technology and support services will give us the structure, support and autonomy to grow our business in the HNW loss adjusting market.”
David Marock, Group CEO, Charles Taylor added: “I am excited that Criterion Adjusters has become part of the Charles Taylor Group, bringing new high net worth adjusting and surveying capabilities and adding to our growing TPA businesses. We are focused on building a larger, more capable, more profitable professional services business. This acquisition marks another important step forward in our strategy to grow by developing new professional service business lines, which are closely-related to our core business, both organically and through carefully targeted acquisitions and investments.”
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