Claims Business: Sedgwick, Davies and Engle Martin
Sedgwick, the global benefits, risk management and claims management firm, has acquired Appraisal Service of Mississippi Inc., an auto and property valuation firm.
The move further expands Sedgwick’s presence in auto and property claims, the company said in a news release.
ASM was founded in 1988 and now provides appraisal services in Mississippi, Louisiana, Alabama and Tennessee. The firm has expertise in automobiles, farm equipment, heavy equipment, motorcycles, recreational vehicles and tractor-trailers.
Sedgwick had previously contracted with ASM, so the acquisition is considered a “good fit,” Sedgwick officials said.
Davies, a London-based claims administrator that has been expanding into North America, had signed an agreement to acquire the insurance management services portfolio of Ortac Underwriting Agency.
Ortac will join Davies’ existing captive-management operations, within Davies’ Global Solutions business, the company said in a press release.
Ortac’s insurance management division will rebrand to Davies and will be operated by the Captive Management division, which is led by President Nick Frost. The division provides technical solutions to captive owners in the United States, Latin America, Canada, Asia, Guernsey, Australasia, and the United Kindgom.
Ortac CEO Richard Tee will continue to lead the team, reporting directly to Frost. Ortac insurance management employees will continue in their roles within Davies, the company said.
Engle Martin, an independent loss adjustment provider and subsidiary of BW Forsyth Partners Corp., has acquired EIMC, an ocean marine risk management, claims investigation and subrogation services provider.
The acquisition of the Jersey City, New Jersey-based EIMC expands Engle Martin’s global footprint and diversifies its service portfolio, the company said in a press release. EIMC’s leadership team will remain in place and continue to oversee operations, the company said.
EIMC has 15 office locations in the United States and United Kingdom. The organization serves as the Lloyd’s agent for multiple US locations, Engle Martin said.