Global loss adjuster Charles Taylor Adjusting has acquired FGR group to expand network, presence and reach across Latin America.
Charles Taylor Adjusting (CTA) did not disclose the financial details related to the transaction.
Headquartered in Chile, FGR is a loss adjusting and claims program management group.
The company employs about 385 people across 17 locations in Chile and Peru, offering specialist technical loss adjusting and claims program management services.
The business operates in property & casualty market, with a specific focus in construction, engineering, liability and catastrophe losses.
The claims management business offers insurance claims settlement services to insurance companies in Chile. Last year, the firm handled nearly 3.1 million claims.
With this acquisition Charles Taylor’s is extending its existing network, presence and client relationships across the Latin American market.
FGR also brings technical expertise and high value services to Charles Taylor’s loss adjusting offering in the region.
Charles Taylor Adjusting CEO Damian Ely said the company has the resources, expertise and technical skills to support local and international insurers and reinsurers with larger and more complex claims and CAT losses.
“The deal progresses our strategy of strengthening our loss adjusting and claims management capabilities in selected markets.”
FGR CEO Ignacio Barriga said: “Becoming part of the Charles Taylor family presents a huge opportunity for FGR. It will give us far greater access to clients in the London and international markets.
“We will benefit from the financial strength, reputation and resources of the Charles Taylor Group and from opportunities for cross-referral and joint working with the wider Group.”
Charles Taylor provides professional services to clients in the global insurance market. The company manages mutual insurance companies, adjust large and complex insurance claims and offers a complete range of outsourced insurance services globally.
Last month, the company said it performed well in the first half of 2018, delivering better revenue growth.
The company’s claims management businesses, in which it has been investing over the last two years, continued to expand strongly.