York Risk Services Group Acquires Axis, Expanding International Capabilities
PARSIPPANY, N.J., Feb. 7, 2013 /PRNewswire/ -- York Risk Services Group (York), a premier provider of a full range of claims administration, risk management and specialized loss adjusting services, today announced it has acquired Axis Holdings Limited (Axis). Axis provides specialist loss adjustment services across various product lines including property, liability, power, energy and construction. The terms of the acquisition were not disclosed.
The acquisition is part of York's strategic plans to expand international growth and provides York with an established and respected operation based primarily in Latin America and Caribbean. The Axis business will become part of York International, as the new entity will be known. York International will offer a blend of home foreign specialist loss adjusting services supporting existing and new Lloyd's and London market insurers and reinsurers. In addition, it will serve as the U.S. market interface for the existing York operation. In parallel with the acquisition, York has established an international head office based in London in the Lloyd's Lime Street location.
Commenting on the Axis deal, Danny Miller, EVP, President of York Specialized Loss Adjusting (York SLA), said, "I have known the Axis personnel for many years, and our relationship has developed from a mutually productive association to having them joining our network of market-leading specialist adjusters. The complementary product lines and natural business synergies provide us with the opportunity to launch our international operation and supply high-quality specialized loss adjustment services across the globe. Moreover, the addition of Axis will also help our BC Johnson Associates division increase its specialized energy adjusting services beyond North America."
David Jamison, Chairman and CEO of Axis, commented, "I am delighted with the opportunities presented and know that with the combined resources and product lines we are well positioned to provide a unique combination of skills and services to our customers."
Norman Mitchell, a market leader in the Financial Institution sector, will be providing oversight for the York London location. Mitchell commented, "The timing of these developments could not be better. We are looking to develop our international footprint to support areas where we feel the industry is falling short on services and specialist technical skills."
About York Risk Services Group
York Risk Services Group is a premier provider of claims-handling, specialized loss adjusting, managed care, pool administration, loss control and other risk management and insurance services nationwide. York provides risk management and managed care solutions to a wide variety of strategic partners, including insurance carriers, self insureds, brokers, wholesalers, MGAs, programs, risk pools and public entities. York delivers customized claims solutions for all lines of business, including property, liability, products liability, ocean and inland marine, environmental, transportation and logistics, construction, and workers' compensation. York is based in Parsippany, N.J., and has nearly 2,400 employees nationwide.
Visit us on the Web at www.yorkrsg.com.
About Axis International Loss Adjusters and Surveyors
Axis is a global firm providing loss adjusting, claims management and surveying services in an array of industries since 1996 having established a niche market presence servicing primarily Latin America and the Caribbean. Axis has enjoyed a reputation for offering high quality specialized loss adjusting services combined with a very effective catastrophe response, particularly in the Caribbean.
For more information, contact:
Anne W. Ellis
Assistant Vice President, Marketing & Communications
York Risk Services Group
Tel: (973) 404-1282
SOURCE York Risk Services Group