Charles Taylor has agreed to acquire Southern California-based third party claim administrator (TPA) Metro Risk Management (MRM) from holding company Nautilus.
MRM provides state and federal workers’ compensation claims administration services to self-insured clients, insurers and captives.
Expected to be completed on September 5, the deal will support the growth of Charles Taylor TPA US along with Charles Taylor's capabilities in outsourced claims services.
Christopher Schaffer, USA CEO of Charles Taylor Insurance Support Services, said: “We are excited to join forces with MRM, given the company’s history of providing quality services and proven expertise to long-term, deeply satisfied clients. MRM broadens our claim services on the USA West Coast, providing a valuable addition to our core federal workers’ compensation, ports and terminals, marine, casualty and cyber TPA business.”
James Callahan, chairman, president and CEO of Nautilus commented: “We have worked closely with Charles Taylor for many years, and know first-hand the insurance expertise and professionalism of the team. Charles Taylor provides MRM with the resources and expertise to expand its services to a wider range of clients. More importantly, the acquisition provides our experienced and quality staff with greater opportunities for career development and advancement.”
David Marock, group CEO of Charles Taylor added: "I am delighted to welcome our new colleagues from MRM to Charles Taylor. This acquisition reflects our continued commitment to growing our TPA business in the USA and globally, to expanding our technical expertise internationally, and to strengthening our relationships with high-quality clients.”
Charles Taylor, Workers' Compensation, M&A, Metro Risk Management, North America