Charles Taylor Consulting acquires Axiom Holdings
Charles Taylor Consulting (CTC) has acquired Axiom, an independent insurance and reinsurance firm that provides support services to Lloyd’s and London insurance market businesses generally.
The purchase is being made for up to £7.85 million and is expected to be earnings enhancing this year.
CTC is a global provider of management and consultancy services to insurers and the move will give the firm an immediate and strong presence in the London insurance support services sector, while at the same time offering attractive opportunities for diversification and expansion.
On completion of the transaction CTC will merge Axiom with LCL, its existing run-off services operation, to form a new Insurance Support Services division
CTC chief executive, John Rowe, comments: “CTC is constantly aspiring to build its expertise both to meet the expanding needs of its clients and broaden its capabilities. I am therefore delighted that we have been successful in acquiring Axiom.”
He adds: “Its employees have an unrivalled knowledge of the workings of global insurance markets in general and the Lloyd’s of London market in particular and by acquiring their services we fulfil a long standing aspiration to increase our capabilities and extend our work within these important markets.”
Axiom employs 143 staff and the firm’s current management team will be remaining with the business.
Category: Axiom News, Companies News, Insurance News
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