Charles Taylor, an independent provider of claims solutions, has bought Ohio-headquartered third-party administrator (TPA) and risk management firm The MATRIX Companies (Matrix).
Financial terms of the transaction were not revealed.
The addition of Matrix’s risk management and workplace safety solutions is said to strengthen the offering of Charles Taylor. It also bolsters Charles Taylor’s reach in the Midwest as it eyes growth in the US.
On the other hand, customers of Matrix can gain access to national claims and TPA coverage, property & casualty (P&C) expertise, and data and analytics reporting through the deal.
Matrix president and CEO Brent Messmer said: “Throughout this process, Charles Taylor has proven to be a company who places a high value on providing superior client service while also recognising the importance of developing, supporting and retaining its employees.”
Matrix offers workers’ compensation claims management services in Ohio.
The firm, set up in 2000, also provides an array of employment and workforce services. These cover case management, Family Medical Leave Act (FMLA) management, disability management, unemployment administration for employers.
Charles Taylor Global TPA CEO Christopher Schaffer said: “The Matrix team not only brings us local expertise and enhanced claims capabilities, but also a culture of professionalism and a reputation for remarkable customer service that is at the core of Charles Taylor’s values.”
With presence in over 30 countries across Europe, the Americas, Asia Pacific, the Middle East and Africa, Charles Taylor provides third-party administration, complex loss adjusting, technical services, and managed care programmes.
It focuses on energy, P&C, aviation, and marine claims.
In July this year, the firm acquired V+B Group, a maritime assurance and surveying company based in the Netherlands.