Insurance services firm Charles Taylor has bought medical assistance and travel claims management firm CEGA Group for £29.8m.
CEGA will continue to be run by its current management team. CEGA chief executive Alistair Hardie will report to Charles Taylor chief executive David Marock (pictured) and will join the group’s executive committee.
Charles Taylor said the deal will allow it to offer new services to clients and establish deeper relationships with global insurers.
It said CEGA has long-standing relationships with large, well-known insurers, some of which are new to Charles Taylor, presenting an opportunity for Charles Taylor to cross sell its other products.
It added that Charles Taylor clients regularly use medical assistance services, which will help CEGA’s growth.
Marock said: “The services of our two businesses are highly complementary and the acquisition adds to the wide range of technical insurance services offered by Charles Taylor.
“We can see significant opportunities for profitable joint-working. We have client relationships across the global insurance and industrial markets, which mean that we will be able to support CEGA’s continued growth. We will also be able to offer new high-value medical assistance and claims management services to our existing clients.”
Hardie added: “As part of the Charles Taylor Group we will have access to resources, expertise and global networks to realise our ambitions to drive growth and develop new markets for our services, and importantly further improve the competitiveness of our core proposition for our existing insurer and corporate clients.”