Charles Taylor acquires Aasgard Summit to extend marine claims management capabilities in strategic US West Coast
08 March 2018
Charles Taylor TPA has acquired Aasgard Summit Management Services, Inc. (Aasgard Summit), a provider of marine claims management and related technical services focusing on the US West Coast states. This strategic move further strengthens Charles Taylor’s marine claims management capabilities in the US, an important component of the Group’s global specialist claims management services.
The acquisition secures Charles Taylor’s position as one of the largest US providers of claims services to the maritime community. Aasgard Summit, with offices in Seattle and Hawaii, adds to Charles Taylor’s strong and growing presence in the strategic West Coast states, home to some of the US’s largest ports and marine operators.
Aasgard Summit also adds further specialist marine surveying capabilities to Charles Taylor’s existing global range of technical insurance services. Marine surveying has strong linkages and potential synergies with Charles Taylor’s existing marine claims management and marine adjusting businesses.
The deal follows Charles Taylor’s acquisition of Metro Risk Management in September 2017, which strengthened the Group’s workers’ compensation claims management capabilities in California.
Christopher Schaffer, Chief Executive Officer - Insurance Support Services, Charles Taylor Americas, said: “I am thrilled to welcome our new colleagues from Aasgard Summit to Charles Taylor. The business employs highly talented claims experts with deep technical marine experience. They will further strengthen our existing claims management capabilities across the US. We are proud to be to be teaming up with Aasgard Summit, a leader in the maritime claims services market. It was a natural fit that enhances the services we can provide to our clients.”
Steve Kennebeck, President, Aasgard Summit. said: “Charles Taylor is an excellent home for Aasgard Summit. Our strength in the marine sector fits extremely well with Charles Taylor’s long maritime history. Our locations in Seattle and Hawaii build upon Charles Taylor’s growing network on the West Coast and across the US. I am looking forward to working with the team and excited to offer new capabilities to Charles Taylor’s clients and ours.”
David Marock, Group Chief Executive Officer, Charles Taylor said: "This acquisition demonstrates our commitment to growing our capabilities in the US. The Aasgard Summit team share our values of delivering exceptional technical services to their clients and I am delighted to welcome them to Charles Taylor. The transaction is part of our overall strategy to grow our business both organically and by developing our professional services capabilities through carefully targeted acquisitions.”