Towers Watson, a professional services company, plans to acquire the DaVinci Consulting Group, an actuarial consulting firm that specializes in the long-term care insurance market, on or about Nov. 1, 2012.
While Vince Bodnar, principal at DaVinci, and certain members of his team already have signed offer letters with Towers Watson, the acquisition remains subject to completion, joint approval and signing of the purchase agreement.
Towers Watson anticipates that 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. Towers Watson says 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.
The deal would not change Towers Watson’s financial results for the fiscal year.
