McLarens expands into captive market with MGB acquisition

McLarens has acquired Toronto-based MGB Claims Consultants which runs a third-party administration (TPA) practice offering captive insurance solutions to clients in North America and London.

Set up in 2010, MGB provides services in complex commercial claims adjusting to North American international insurers, with expertise in property and casualty, professional and commercial general liability, medical liability, cyber, environmental, energy and natural resources, and film and entertainment.

Atlanta-based consulting firm McLarens, which specialises in loss adjusting and claims across property and casualty, catastrophe response, crisis management response, and cyber, said the acquisition will add loss management expertise and technical skills to its existing aviation and natural resources operations in Canada.

Gary Brown, CEO of McLarens, said the acquisition will provide the potential to further expand commercial and specialty loss adjusting services to domestic and multinational clients in Canada and the US.

It comes after McLarens hired Kirsten Early in May to spearhead the strategic expansion of its TPA business and better align its regional operations to increase quality and consistency across its international network. Early has considerable experience working with captives, as well as brokers, traditional insurers and corporates.

MGB has more than 25 professionals across Toronto, Calgary, and Vancouver, while McLarens has more than 1,200 employees and operations across 41 countries. The financial details of the acquisition were not disclosed.