Towers Watson, a global professional services company, plans to acquire the business of the DaVinci Consulting Group, a boutique actuarial consulting firm that specializes in the long-term care insurance market, on or about November 1, 2012. The acquisition is subject to completion, joint approval and signing of the purchase agreement. Vince Bodnar, principal, DaVinci, and certain members of his team have already signed offer letters with Towers Watson.
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.
Co-founded by Bodnar, the Yardley, PA-based firm has prepared a large number of long-term care insurance block analyses. 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.