Loss adjuster Charles Taylor Adjusting (CTA) has purchased FGR, a Chilean loss adjusting and claims programme management group. The deal closed for an undisclosed sum.
FGR focuses on construction, engineering, liability and catastrophe losses, while offering insurance claim settlement services to insurance firms in Chile. The firm has 17 branches in Chile and Peru and as well as a workforce of around 385.
CTA CEO Damian Ely 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.”
As a result, FGR and CTA’s existing adjusting businesses in Latin America will integrate. These businesses are also headed by managing director and regional head for Latin America Felipe Ramirez.
FGR CEO Ignacio Barriga also added: “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.”