Acquisition enhances property and casualty actuarial and compliance offerings within insurance practice.
FTI Consulting, Inc. (NYSE: FCN) has announced that it has acquired Madison Consulting Group, an actuarial consulting firm with 25 billable professionals and offices in Madison, Georgia., and Newtown Square, Pennsylvania. The addition of Madison Consulting Group expands the firm's property and casualty actuarial and compliance offerings within the Global Insurance Services practice in the Forensic and Litigation Consulting segment. Terms of the transaction were not disclosed.
As part of the transaction, Madison Consulting Group President Dr. Mark Crawshaw joins FTI Consulting as a Senior Managing Director, and Tina Knight, Leslie Marlo and John Gleba join as Managing Directors. Dr. Crawshaw and the team enhance FTI Consulting's property and casualty actuarial consulting capabilities and provide clients with insurance policy regulatory compliance services that will help insurance companies meet state and federal regulatory requirements. The team provides actuarial, data collection, compliance reporting and expert witness services to clients that include state and federal regulatory agencies, law firms, insurance companies, managing general agents and self-insurance programs.
"Disruptions such as regulatory changes, severe weather events, cyber threats, artificial intelligence, self-driving vehicles and ESG compliance, among numerous others, have changed how entities view and mitigate risk," said Wendy Shapss, Co-Leader of the Global Insurance Services practice at FTI Consulting. "We have a great relationship with Mark and his team, and we have a track record of working collaboratively to help our clients. The services they provide complement our existing actuarial capabilities and greatly add to our ability to serve property and casualty insurers."
Dr. Crawshaw began his actuarial career in 1984 and joined Madison Consulting Group in 1988. His experience includes loss and loss expense reserve analysis for personal and commercial lines; ratemaking and profitability studies for personal and commercial lines; expert testimony in rate hearings, reinsurance arbitrations, legislative matters and legal proceedings; and assistance to state insurance regulators in evaluating rate filings, the financial condition of insurance companies and other actuarial matters. Dr. Crawshaw is a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.
"FTI Consulting's platform gives our team an opportunity for growth and is a cultural fit for us," Dr. Crawshaw said. "We are excited to bring the breadth of FTI Consulting's offerings to our existing clients, and we look forward to partnering with our new colleagues to unlock new opportunities."
FTI Consulting's Global Insurance Services professionals combine their business and technical acumen to help insurers, reinsurers, captives, brokers, investors, regulators, corporations and their legal and business advisors address complex strategic and tactical issues. They manage a broad range of large domestic and international engagements such as high-profile, discreet investigations and disputes, complex restructurings and enterprisewide transformations, and the application of methodologies and analytics to innovate, improve performance, reduce risk and achieve compliance.
SOURCE: FTI Consulting
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