A third-party insurance claims administration firm from Rancho Cordova with a focus on workers' compensation has been acquired by a major worldwide insurance player.
Presidium Holdings Inc., which employs 90 locally and 750 workers companywide, was purchased this month by Aon Corp., a holding company of insurance brokerage, consulting and underwriting subsidiaries.
Presidium Holdings becomes part of Cambridge Integrated Services Group Inc., Aon's New Jersey-based third-party administration subsidiary. Terms of the cash deal were not disclosed.
"It was a good price, though," said Paul Glover, who was president, chief executive officer, chairman and part-owner of the purchased company. …