FTI Consulting Acquires Madison Consulting Group
04 Marzo 2024 - 1:30PM
FTI Consulting, Inc. (NYSE: FCN) today announced that it has
acquired Madison Consulting Group, an actuarial consulting firm
with 25 billable professionals and offices in Madison, Ga., and
Newtown Square, Pa. 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
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
enterprise-wide transformations, and the application of
methodologies and analytics to innovate, improve performance,
reduce risk and achieve compliance.
About FTI ConsultingFTI Consulting, Inc. is a
global business advisory firm dedicated to helping organizations
manage change, mitigate risk and resolve disputes: financial,
legal, operational, political & regulatory, reputational and
transactional. With more than 7,900 employees located in 31
countries and territories, FTI Consulting professionals work
closely with clients to anticipate, illuminate and overcome complex
business challenges and make the most of opportunities. The Company
generated $3.49 billion in revenues during fiscal year 2023. In
certain jurisdictions, FTI Consulting’s services are provided
through distinct legal entities that are separately capitalized and
independently managed. For more information, visit
www.fticonsulting.com.
About Madison Consulting Group Madison
Consulting Group, Inc. is an independent actuarial consulting firm
with offices in Madison, Ga., and Newtown Square, Pa. The firm was
founded in 1987 and incorporated in its current form in 1999.
Madison Consulting Group provides actuarial, data collection,
compliance reporting and expert witness services. Clients include
state and federal regulatory agencies, law firms, insurance
companies, managing general agents and self-insurance programs.
Safe Harbor Statement This press release
includes “forward-looking statements” within the meaning of Section
21E of the Securities Exchange Act of 1934 that involve
uncertainties and risks, including statements related to our
expectations regarding the acquired entity and its services and
professionals. There can be no assurance that they will perform as
expected. Factors that could cause the Company expectations to
differ include the Company’s ability to market the services they
offer and perform, competitive and general economic conditions, the
retention of professionals, staff and clients, and other risks
described under the heading “Item 1A. Risk Factors” in the
Company’s most recent Form 10-K and in the Company’s other filings
with the Securities and Exchange Commission. We are under no
duty to update any of the forward-looking statements to conform
such statements to actual results or events and do not intend to do
so.
FTI Consulting, Inc. 555 12th Street NW
Washington, DC 20004 +1.202.312.9100
Investor Contact: Mollie
Hawkes+1.617.747.1791mollie.hawkes@fticonsulting.com
Media Contact: Matthew
Bashalany+1.617.897.1545matthew.bashalany@fticonsulting.com
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