Sedgwick to acquire Cunningham Lindsey

Source: sedgwick

Sedgwick Claims Management Services, Inc., a leading global provider of technology-enabled risk and benefits solutions, has signed an agreement to acquire Cunningham Lindsey, a global loss adjusting, claims management and risk solutions firm.

An industry pioneer with 100 years of experience, Cunningham Lindsey assists businesses, insurance companies, brokers and policyholders around the world by offering expert support when losses occur, such as during natural disasters. The company’s 6,000 highly skilled professionals comprise local teams in 600 offices across 60 countries.

“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,” said Michael Arbour, Sedgwick group president. “This exciting development puts us in an optimal position to meet the increasingly complex needs of clients around the world.”

The Cunningham Lindsey group includes a range of services addressing all aspects of the risk management life cycle, including pre- and post-loss; their specialties in loss adjusting, third-party claims administration, global account management, forensic engineering, and restoration and repair consulting, among others, notably complement the existing offerings of Sedgwick and subsidiary Vericlaim.

“Joining forces with Sedgwick and Vericlaim presents an opportunity to provide our clients an end-to-end service solution around the world,” said Jane Tutoki, global CEO of Cunningham Lindsey. “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. We are excited about the next step in this journey with Sedgwick and Vericlaim to offer a truly global path to transform the way we provide our services together.”

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, Arbour said. Following the close of the transaction, the Sedgwick family will be more than 20,000 colleagues strong.

“At Sedgwick, taking care of people is at the heart of everything we do, and we know that Cunningham Lindsey shares our commitment to caring for people when the unexpected occurs,” said David A. North, Sedgwick president and CEO. “Together, we will have the capacity to reach more individuals in their time of need in more locations than ever before.”

The closing of the transaction is subject to customary conditions and regulatory approvals. 

Caisse to invest more than US$400M to acquire minority stake in insurer Hyperion

The Caisse de depot et placement du Quebec has signed a deal to acquire a significant minority stake in Hyperion Insurance Group.

Under the agreement, the Caisse says it will invest more than US$400 million in the company as a long-term growth partner.

Hyperion is an international insurance group including broker divisions Howden and RKH and underwriting division Dual.

The transaction is subject to regulatory consents.

The Caisse joins investment firm General Atlantic as a partner in Hyperion.

Management and employees will remain the largest shareholder group.

 

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