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Charles Taylor Acquires Ohio-Based Third-Party Administrator, The Matrix Companies

Nov 29, 2022about 3 years ago

Acquiring Company

Charles Taylor

Acquired Company

Party Administrators

InsuranceConsulting

Description

Charles Taylor, a leading provider of claims solutions to the United States (U.S.) and global insurance markets, announced today it has acquired The Matrix Companies (Matrix), a third-party administrator (TPA) and risk management specialist.

Company Information

Company

Charles Taylor

About

Charles Taylor is an independent, global provider of claims solutions, insurance management services and technology platforms for all property and casualty and specialty insurance markets. We offer complex loss adjusting, technical services, third-party administration, and managed care programs with specialization in P&C, aviation, energy and marine claims. With over 100 years of expertise at our core, we offer a comprehensive suite of solutions across all lines of business to help our clients manage risk. Charles Taylor employs more than 3,100 staff across our expansive global network in more than 30 countries across Europe, the Americas, Asia Pacific, the Middle East and Africa. The company delivers risk management solutions to a diversified customer base that includes regional, national and international insurance companies, self-insured employers, mutuals, captives, brokers, Lloyd's syndicates and reinsurers. Our clients benefit from customized solutions, technical expertise and the global reach of our award-winning solutions.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed