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Financial terms of the transaction were not disclosed. The signing of this transaction establishes our presence on the island and represents a key step in executing our strategy in the Crown Dependencies. Our decision to proceed with this transaction resulted from the ongoing evaluation of our business to ensure the right offerings, operating structure and competitive positioning for our clients and for our long-term success. The divestment of the Isle of Man operation was a natural conclusion of this assessment and results in a simpler group with a clear focus on non-life insurance services across our core claims services, technology and insurance management offerings.
I am delighted that we are joining Monument Re and look forward to playing our part in driving further growth. Both Monument Re and Charles Taylor are committed to providing seamless continuity of services during the period of transition. Change of control of the companies will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.
Fenchurch Advisory Partners acted as financial adviser to Charles Taylor. About the Charles Taylor Group. Charles Taylor is a global provider of professional services and technology solutions dedicated to enabling the global insurance market to do its business fundamentally better. Dating back to , Charles Taylor now employs approximately staff in more than locations spread across 30 countries in Europe, the Americas, Asia Pacific, the Middle East and Africa.
Charles Taylor believes that it holds a distinctive position in its markets in that it is able to provide professional services and technology solutions in order to support every stage of the insurance lifecycle and every aspect of the insurance operating model. Charles Taylor serves a diversified blue-chip international customer base that includes national and international insurance companies, mutuals, captives, MGAs, Lloyd’s syndicates and reinsurers, along with brokers, distributors and corporate insureds.
About Monument Re.
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