WASHINGTON - FTI Consulting, Inc. (NYSE: NYSE:FCN), a global business advisory firm, has acquired Madison Consulting Group, a specialist actuarial consulting firm. The acquisition, announced today, brings 25 billable professionals, including one Senior Managing Director, into FTI Consulting's fold, enhancing its property and casualty actuarial and compliance offerings within its Global Insurance Services practice.
Madison Consulting Group, with offices in Madison, Georgia, and Newtown Square (NYSE:SQ), Pennsylvania, has been incorporated since 1999 and provides a range of services including actuarial, data collection, compliance reporting, and expert witness services to a diverse client base. This client base includes state and federal regulatory agencies, law firms, insurance companies, managing general agents, and self-insurance programs.
Mark Crawshaw, the President of Madison Consulting Group, joins FTI Consulting as a Senior Managing Director. Tina Knight, Leslie Marlo, and John Gleba also join as Managing Directors. Their expertise is expected to enhance FTI Consulting’s capabilities in property and casualty actuarial consulting and help clients navigate complex regulatory requirements.
Wendy Shapss, Co-Leader of the Global Insurance Services practice at FTI Consulting, recognized the value of the acquisition, noting that the services provided by Madison Consulting Group complement the firm’s existing actuarial capabilities and will aid in serving property and casualty insurers.
Dr. Crawshaw, a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries, brings significant experience to FTI Consulting, having started his actuarial career in 1984. His expertise includes analysis for personal and commercial lines, ratemaking, profitability studies, and providing expert testimony in various legal and regulatory contexts.
FTI Consulting's Global Insurance Services professionals work on a wide array of engagements, including investigations, disputes, restructurings, and enterprise-wide transformations. The company, with more than 7,900 employees in 31 countries, generated $3.49 billion in revenue in the fiscal year 2023.
The terms of the transaction between FTI Consulting and Madison Consulting Group have not been disclosed. This move is part of FTI Consulting's strategy to address the evolving needs of insurers amid challenges such as regulatory changes, severe weather events, cyber threats, and the demands of ESG compliance.
The information for this article is based on a press release statement from FTI Consulting, Inc.
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