Investment in Irish market expands the company's global footprint
MEMPHIS, Tenn., May 25, 2016 /PRNewswire/ -- Sedgwick has signed a definitive purchase agreement to acquire OSG Group, the leading independent specialist outsource services provider in Ireland. OSG provides property and liability loss adjusting services, as well as third-party administration (TPA), motor and specialist claims, customer support and staffing services to a diverse range of clients in the Irish and overseas markets.
The purchase marks Sedgwick's first investment in Ireland and a milestone in the expansion of its global footprint. As part of the purchase agreement, OSG's team of more than 400 colleagues in eight locations across Ireland will join the international operations of Sedgwick and its subsidiary Vericlaim.
"Becoming part of the growing Sedgwick and Vericlaim family is a terrific opportunity for OSG's colleagues and customers alike," said Malcolm Hughes, CEO of OSG. "We will all benefit from their unparalleled depth of resources and knowledge. Sedgwick's investment in OSG demonstrates the confidence of an industry leader in our talented team and the strength of the financial services market in Ireland. Together, Sedgwick, Vericlaim and OSG will offer a broad array of best-in-class outsourced services to the global insurance market and to customers the world over."
"As a sophisticated insurance and financial services center for much of Europe, Ireland was a natural fit for the next stage of Sedgwick's growth beyond North America," said Sedgwick President and CEO Dave North. "OSG has been an esteemed member of our vrs Adjusters network for more than a decade, earning a stellar global reputation in both loss adjusting and claims administration. The leading-edge services they provide nicely complement the strategic solutions offered through our Sedgwick and Vericlaim brands.
"Joining forces with OSG enables us to meet the ever-changing needs of our international customers and to bring our caring countsSM philosophy to new markets. With expanded capabilities and more resources around the world, we are better positioned than ever to be where customers need us when they need us most," North said.
The transaction is expected to close next month, subject to customary conditions and approvals.
Sedgwick Claims Management Services, Inc., is a leading global provider of technology-enabled risk and benefits solutions. At Sedgwick, caring countsSM; the company takes care of people and organizations by delivering cost-effective claims, productivity, managed care, risk consulting and other services through the dedication and expertise of more than 13,000 colleagues in some 275 offices located in the U.S., Canada and the U.K. Sedgwick facilitates financial and personal health and helps customers and consumers navigate complexity by designing and implementing customized programs based on proven practices and advanced technology that exceed expectations. Sedgwick's majority shareholder is KKR; Stone Point Capital LLC and other management investors are minority shareholders. For more, see www.sedgwick.com.
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SOURCE Sedgwick Claims Management Services, Inc.