2013-03-07 20:06:07 -
Crawford & Company agrees to acquire majority of
UK-based Lloyd Warwick International
Acquisition Boosts Onshore and Offshore Energy Loss Consulting Capabilities
ATLANTA (March 7, 2013) - Crawford & Company (NYSE: CRDA; CRDB), the world's
largest independent provider of claims management solutions, announced today
that it has agreed to terms to acquire a majority interest in Lloyd Warwick
International Limited (LWI). LWI is a specialist loss consulting company based
in London which offers onshore and offshore energy expertise. The company is
lead by Dudley Chapman, founder and chairman of LWI.
Crawford President & Chief Executive Officer Jeffrey T. Bowman said, "The
acquisition of LWI is in line
with our global strategy to grow our portfolio of
services and builds on Crawford's existing capability in the energy market.
This acquisition increases our ability to handle offshore claims and reiterates
our focus on offering market leading expertise in specialist and technical
services, a focus that aligns with our growth initiatives for our Global
Technical Services business."
Bowman continued, "Dudley Chapman is a very experienced, talented and successful
leader who shares our dedication to client service and vision for growth. We
intend to aggressively grow our share in the Oil and Energy sector and expand
significantly LWI's capabilities in this highly complex market. LWI intends to
be at the forefront of this market."
Commenting on the agreement, Dudley Chapman stressed that, "This transaction
brings together the proven expertise of LWI in this dynamic and growing sector
and the global strength and reach of Crawford & Company. Crawford's global
footprint will allow expansion in key areas throughout the world as we continue
concentrating on providing excellent customer service and increasing our
technical capability. I very much look forward to working with Crawford to take
this business to the next level."
Based in Atlanta, Ga., Crawford & Company (www.crawfordandcompany.com) is the
world's largest independent provider
of claims management solutions to the risk management and insurance industry as
well as self-insured entities, with an expansive global network serving clients
in more than 70 countries. The Crawford System of Claims Solutions(®) offers
comprehensive, integrated claims services, business process outsourcing and
consulting services for major product lines including property and casualty
claims management, workers compensation claims and medical management, and legal
settlement administration. The Company's shares are traded on the NYSE under the
symbols CRDA and CRDB.
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Source: Crawford & Company via Thomson Reuters ONE