Towers Watson (NYSE, NASDAQ:TW) plans to acquire the business of the DaVinci Consulting Group, a boutique actuarial consulting firm specializing in the long-term care insurance market, on or about November 1.
Towers Watson, a global professional services company, anticipates DaVinci’s range of services for life insurance, health insurance and managed care products, including long-term care combination products linked to life insurance and annuities, will increase its competencies and experience in the long-term care insurance market.
“DaVinci’s expertise with long-term care insurance analytical services and its innovative risk management strategies fit our broader efforts to protect insurers’ capital and profitability,” said Craig Buck, managing director, Life practice, Towers Watson.
The principals and 10-member consulting staff of DaVinci are expected to join Towers Watson’s Life practice and to be based in the Philadelphia area upon the acquisition, which is subject to completion, joint approval and signing of the purchase agreement
The deal would not change Towers Watson’s financial results for the fiscal year.