(Photo: Sedgwick)
Sedgwick announced it has signed an agreement to acquire York Risk Services Group, a provider of claims administration, managed care, specialized loss adjusting, pool administration and loss control solutions.
York comprises nearly 5,000 employees in more than 60 offices across the U.S. and internationally, and serves a variety of clients in the insurance industry and public entities. After the acquisition finalizes, Sedgwick will be comprised of over 27,000 employees.
There is a strong strategic fit between Sedgwick and York, a Sedgwick spokesperson said, adding that the two companies offer complementary services and geographic footprints, and both have a longstanding tradition of caring for people when losses and other unexpected events occur.
|Forging a strategic partnership
“Together, we will have the capacity to reach more individuals in their time of need in more locations than ever before,” the spokesperson said.
“The acquisition of York broadens our footprint, bolsters our capabilities, and enhances Sedgwick's status as a leading global provider of innovative risk, benefits and integrated business solutions. York offers customized claims solutions and has specialized experience to handle even the most complex claims across all liability lines. Their offerings notably complement Sedgwick's existing market capabilities.”
The closing of the transaction is subject to customary conditions and regulatory approvals. The terms of the agreement were not disclosed.
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Danielle Ling
Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].
