Atlanta-based Crawford & Co. has sold its 51 percent stake in London-based claims adjuster Lloyd Warwick International, the latest move to present an integrated offering to customers worldwide.
Lloyd Warwick, which specializes in claims management and adjusting services in the renewable energy sector, was the final piece of Crawford’s portfolio that did not carry the company’s brand.
Crawford has undertaken the “One Crawford” initiative in top markets like the U.K., Australia, Canada and the U.S. to showcase its global service lines and international operations, which include 9,000 employees in 70 countries, with claims managed in 150 countries.
The company said selling Lloyd Warwick to insurance services provider McLarens, which has origins in Atlanta, for an undisclosed sum was a natural strategic move.
“This sale allows us to simplify our loss adjusting brand structure and take a One Crawford approach to the market,” commented Andrew Bart, president of Crawford Global Technical Services. “We remain committed to the energy sector and will now operate solely under the Crawford brand. Our focus on being the best experts for the most complex claims remains unchanged as we continue to deliver on our mission to restore and enhance lives, businesses and communities.”
Crawford in May appointed Rohit Verma as CEO and Joseph Blanco as president. Harsha Agadi, who held both posts during a five-year period, went back to holding a seat on the board of directors.
Crawford is the largest publicly traded, independent provider of claims adjustment services. The company lost $11.4 million on $237.5 million in revenues during the first quarter of 2020, blaming declines in claims volume as COVID-19 hit business activity and the weather stayed relatively mild.