FTI Consulting, Inc., a global business advisory firm, announced the expansion of its global insurance practice through the addition of 41 professionals, including two senior managing directors and four managing directors, from affiliates of WD Scott Limited (collectively “Distinct”) on Tuesday.
Distinct provides of insurance management consulting services with offices in Dublin, London and New York.
Terms of the transaction were not disclosed.
Founded in 2005, Distinct combines analytics-based principles and industry expertise to help clients increase profitability, reduce cost, generate growth and manage complex risk. Distinct’s data-driven approach to identifying and delivering organizational change and economic value through profit improvement and customer retention is supported by proprietary data analytics tools, which are focused on customer patterns, risk profiles, income drivers and profit levers.
The addition of Distinct will significantly expand the FTI’s global insurance practice service offering, geographic footprint and industry expertise, FTI said in a statement.
Richard Hershman, leader of the FTI’s global Insurance practice, said: “Distinct has established long-standing and deep relationships with market-leading diversified global insurance corporations, bank holding companies and multi-national telecom and aviation providers. We believe that adding Distinct’s professionals and proprietary analytics tools to FTI Consulting’s offering will provide an enhanced value proposition to our clients in regulated industries.”
David Power, Chief Executive Officer of Distinct will be joining FTI Consulting as a Senior Managing Director.
Commenting on the transaction, David Power said, “Joining FTI Consulting provides our clients and professionals with an established and broad global platform. We believe FTI Consulting is the ideal partner to further expand our delivery of services, analytical tools and expertise internationally,” noting that he was particularly excited for the opportunity to expand Distinct’s capabilities to FTI Consulting’s established client base in the United States, the largest insurance market in the world.
Source: FTI Consulting