Cunningham Lindsey Acquires the Loss Adjusting Business of GAB Robins North America, Inc.

TAMPA, Fla., Jan. 4, 2011 /PRNewswire/ -- Cunningham Lindsey announced today that it has acquired the U.S. loss adjusting business of GAB Robins North America, Inc., further securing Cunningham Lindsey's position as a leading provider of loss adjusting and claims management services to the U.S. and global insurance markets.

The addition of the GAB Robins loss adjusting business significantly expands Cunningham Lindsey's operation in the United States, particularly in the commercial loss adjusting space.  Cunningham's U.S. operation will expand by more than 380 people and 100 office locations as a result of the acquisition, bringing its total presence in the United States to more than 1,100 full-time employees in 200 office locations.  The Cunningham Lindsey and GAB Robins' operations are complementary with minimal service and client redundancy. The combined business will provide Cunningham Lindsey's clients with a comprehensive service offering across the full spectrum of industrial, commercial and personal property, and casualty claims, both within the United States and globally.  Further, the substantial operational scale that Cunningham Lindsey now enjoys in the U.S. optimally positions the company to effectively compete for large multi-national accounts and for placement on national and regional insurer panels.  The combined business will operate under the Cunningham Lindsey brand identity.

Philippe Bes, President and Chief Executive Officer of the Cunningham Lindsey Group, said: "This acquisition will significantly enhance Cunningham Lindsey's operations in the field of commercial and technical claims, broadening our competencies to extend from low severity personal lines claims to large complex specialty claims.  I am particularly pleased to welcome the management and employees of GAB Robins North America into the Cunningham Lindsey Group.  I have worked with many of their people while we were colleagues together at GAB Robins and regard GAB's Executive General Adjusters, as well as the rest of the GAB Robins' staff, as among the most talented loss adjusting teams in the industry."

Jim Girard, CEO of GAB Robins North America, said: "We are excited to join Cunningham Lindsey, a company that has successfully grown its franchise to become the partner of choice for global players.  We are particularly enthusiastic about rejoining many of our former colleagues who moved to Cunningham Lindsey almost two years ago when Cunningham Lindsey acquired the international operations of GAB Robins and EFI Global.  Cunningham Lindsey has an experienced and proven senior management team that we know well.  Our leadership in the field of technical claims and our industry leading group of Executive General Adjusters will solidify Cunningham Lindsey's position as the leading global loss adjusting firm."

Cunningham Lindsey is majority-owned by Stone Point Capital, LLC, a leading private equity firm specializing in the global insurance and financial services sectors. Stone Point acquired a majority interest in Cunningham Lindsey in 2007.

For additional information contact Vicki Baham Black, Assistant Vice President, US Director of Marketing on telephone (770) 953 8009 or [email protected].

You may also visit our website at www.cunninghamlindsey.com.

About Cunningham Lindsey

Cunningham Lindsey is a leading provider of independent loss adjusting and claims management services worldwide.  In addition to its core loss adjusting services, Cunningham Lindsey provides engineering consultancy, risk management, risk survey, environmental remediation consultancy, valuation and related services as well as employee training solutions for its clients in the United States. Cunningham Lindsey's global network consists of approximately 7,000 people in 65 countries worldwide.

In the acquisition of GAB Robins, Cunningham Lindsey was represented by Stephen R. Hertz and Jennifer L. Chu of Debevoise & Plimpton LLP. GAB Robins was represented by BofA Merrill Lynch as financial advisor, and Peter C. Krupp and Kimberly A. de Beers of Skadden, Arps, Slate, Meagher & Flom LLP, as legal advisors.  

SOURCE Cunningham Lindsey