European loss adjusting business Insurance Engineering Services (IES) has been acquired by London-headquartered Charles Taylor Plc for an undisclosed sum.
Charles Taylor, which provides professional services to clients in the global insurance market, makes the swoop after snapping up Syndicate Claim Services in April, Cosulich Marine Consultants Group in March, and Aegis Corporation in January.
Commenting on the latest deal, Charles Taylor group chief executive Rob Brown said: “Charles Taylor Adjusting is a global leader in adjusting large, complex losses for property and casualty, natural resources, marine, and aviation insurance clients.
“The addition of IES is another step in our growth strategy for claims solutions and specifically our adjusting business. It adds to our capabilities and reach in Italy and other European markets, enabling us to do more for our clients and to bring the benefits of Charles Taylor’s broader solutions to IES’s clients.”
Charles Taylor also has insurance management and insurance technology businesses, aside from the company’s claims solutions unit which spans third-party administration and adjusting. It has a global workforce of more than 3,000 people.
IES, meanwhile, is headquartered in Italy and employs 92 people across 18 offices. It offers a range of services such as loss adjusting, corporate claims management, risk engineering, and training to the insurance market.
“Thanks to the dedication of our colleagues and the outstanding client service we have provided for the past 25 years, IES has been able to reach a leading position in the market,” noted IES co-CEOs and founding partners Carlo Tozzi Spadoni and Giuseppe Degradi in a joint statement.
“When we deliberated over what the future holds for our business, Charles Taylor’s strong technology platform and entrepreneurial culture was an immediate fit. We are looking forward to bringing our expertise and knowledge to this global name.”
