December 06, 2017
Claims management firm Sedgwick Claims Management Services has agreed to acquire loss adjuster Cunningham Lindsey.
The terms of the transaction were not disclosed.
Cunningham Lindsey comprises a number of business segments specialising in loss adjusting, third party claims administration, forensic engineering and repair consulting. It employs 6,000 people operating in 600 offices spanning 60 countries.
Cunningham Lindsey said that its range of services complement the existing offerings of Sedgwick and subsidiary Vericlaim.
Cunningham Lindsey global CEO Jane Tutoki said: “Joining forces with Sedgwick and Vericlaim presents an opportunity to provide our clients an end-to-end service solution around the world.
“Our vision is to align our complementary services and further grow the reach to a scale that will help redefine the expertise and talent we can offer.”
Meanwhile, Sedgwick group president Michael Arbour said the strategic acquisition of Cunningham Lindsey enhances Sedgwick’s status as the leading global provider of innovative risk and benefit solutions and broadens the company’s international footprint.
“Bringing the incomparable talent, expertise and robust global capabilities of Sedgwick, Vericlaim and Cunningham Lindsey under one umbrella is among the greatest stories to emerge from the claims industry in many years,” he said.
“This exciting development puts us in an optimal position to meet the increasingly complex needs of clients around the world.” he added.
Sedgwick’s majority shareholders include KKR, Stone Point Capital LLC and Caisse de dépôt et placement du Québec.
The closing of the transaction is subject to customary conditions and regulatory approvals. Following deal completion, Sedgwick will have more than 20,000 employees.