Charles Taylor acquires Aasgard Summit to Boost Marine Claims Capabilities

The deal strengthens the company’s marine claims management capabilities in the strategic U.S. West Coast.

(Los Angeles port. Photo credit: Eric Garcetti.) 

Charles Taylor TPA (Wilton, Conn.; a division of London-based Charles Taylor plc) has acquired Aasgard Summit Management Services, Inc. (Seattle), 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.

Christopher Schaffer, CEO, Insurance Support Services, Charles Taylor Americas.

“I am thrilled to welcome our new colleagues from Aasgard Summit to Charles Taylor,” comments Christopher Schaffer, CEO, Insurance Support Services, Charles Taylor Americas. “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.”

Through the acquisition Charles Taylor reports that it secures its position as one of the largest U.S. providers of claims services to the maritime industry. With offices in Seattle and Hawaii, Aasgard Summitadds to Charles Taylor’s presence in the strategic West Coast states, home to some of the U.S.’s largest ports and marine operators.

The deal also adds specialist marine surveying capabilities to Charles Taylor’s existing global range of technical insurance services. Charles Taylor says that marine surveying has strong linkages and potential synergies with the company’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.

Growing Network on West Coast and across the Continent

David Marock, Group CEO, Charles Taylor.

“Charles Taylor is an excellent home for Aasgard Summit,” comments Steve Kennebeck, President, 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 U.S.”

David Marock, Group CEO, Charles Taylor, characterizes the acquisition as demonstrating the company’s commitment to growing its capabilities in the U.S.  “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,” he says. “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.”

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