Charles Taylor Adjusting acquires FGR group to extend network, presence and reach across Latin America
04 October 2018
International loss adjuster, Charles Taylor Adjusting (CTA) has acquired FGR group, a loss adjusting and claims programme management group, headquartered in Chile. FGR employs around 385 people in 17 locations in Chile and Peru and has a growing presence across Latin America. It provides specialist technical loss adjusting and claims programme management services.
The loss adjusting business operates in the Property & Casualty market, with particular strength in construction, engineering, liability and catastrophe losses. The claims management business provides insurance claim settlement services to insurance companies in the Chilean market. The business handled around 3.1 million claims during 2017.
FGR is located on the ‘Pacific Ring of Fire’, which gives it greater exposure to CAT events in the region. FGR has worked on recent major CAT events, including the 2015 Chilean floods, 2016 Ecuador earthquake and 2017 Puerto Rico hurricanes, the latter in association with Charles Taylor Adjusting.
The acquisition extends Charles Taylor’s existing office network, presence and client relationships across Latin America, and positions Charles Taylor as one of the leading international claims programme management and loss adjusting firm in Latin America. It also adds technical expertise and high value services to CTA’s loss adjusting offering in the region.
FGR’s clients will benefit from the strength and resources of Charles Taylor and will be able to access additional lines of business and further services offered by CTA and the wider Charles Taylor Group.
FGR will be integrated with Charles Taylor Adjusting’s other existing Latin American adjusting businesses, which are led by Felipe Ramirez, Managing Director and Regional Head, Latin America.
Damian Ely, Chief Executive Officer, Charles Taylor Adjusting, said:
“This acquisition greatly strengthens our loss adjusting presence and capabilities in Latin America. Charles Taylor Adjusting is now one of the leading international loss adjusters in the region. We have 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.”
Ignacio Barriga, Chief Executive Officer, FGR 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.”
David Marock, Group Chief Executive Officer, Charles Taylor said:
"This acquisition demonstrates our commitment to growing our capabilities in Latin America following our recent acquisition of Argentinian-based insurance technology provider, Inworx. It marks an important step forward in delivering our strategy to achieve market leading positions for each of our businesses and expand into growing economies and markets. I am very pleased to welcome our new colleagues from FGR to Charles Taylor.”