Charles Taylor PLC Completion of Acquisition (3262G)
March 03 2015 - 2:02AM
UK Regulatory
TIDMCTR
RNS Number : 3262G
Charles Taylor PLC
03 March 2015
Date: 3 March 2015
On behalf of: Charles Taylor plc ("Charles Taylor" or the
"Company")
Embargoed until: 0700hrs
Charles Taylor plc
Completion of the acquisition of The Strike Club management
companies
Further to the announcement on 26 February 2015, the Company
announces that its subsidiary, Charles Taylor Vesta Limited, has
completed the acquisition of three of the SC Management group's
("SC Management") operating companies from its shareholders, SCE
Establishment Liechtenstein and S.C. Management (Bermuda) Ltd (the
"Acquisition").
SC Management is the independent third-party manager of The
Strike Club group ("The Strike Club"), a group of mutual insurance
companies. The Strike Club is a marine mutual insurance group that
is fully owned by its members. It is the only dedicated mutual
insurer covering the running costs of vessels delayed by strikes,
shore delays, collisions, groundings and other incidents outside an
owner's or charterer's control. In addition to mutual delay cover,
it also offers war and loss of earnings cover on a fixed premium
basis.
David Marock, Group Chief Executive Officer, Charles Taylor
said: "The completion of this acquisition marks another important
step in delivering our growth strategy of actively seeking
opportunities to grow our Management Services business. This
acquisition provides us with the opportunity to manage another
well-regarded mutual insurance company, The Strike Club group, and
is an important step in implementing our wider growth
strategy."
-ENDS-
For further information:
Charles Taylor plc
David Marock, Group Chief
Executive Officer
Mike Lord, Group Communications Via Redleaf Polhill
Director
Redleaf Polhill ct@redleafpr.com
Rebecca Sanders-Hewett
Charlie Geller
David Ison 020 7382 4730
Notes to editors
Charles Taylor plc is a leading provider of professional
services to clients across the global insurance market. The Group
has been providing services since 1884 and today employs over 1,000
staff in 61 offices spread across 26 countries in the UK, the
Americas, Asia Pacific, Europe and the Middle East.
The Group offers services, principally on a fee-based model and
operates through three businesses - Management, Adjusting and
Insurance Support Services. Charles Taylor also owns insurers,
creating value through select acquisitions and operational
efficiency.
Further information is available at www.ctplc.com
Statements made in this announcement that look forward in time
or that express management's beliefs, expectations or estimates
regarding future occurrences are "forward-looking statements"
within the meaning of the United States federal securities laws.
These forward-looking statements reflect the Group's current
expectations concerning future events and actual results may differ
materially from current expectations or historical results.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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