Crawford & Company® agrees to sell its share of Lloyd Warwick International (LWI) business

Rhea-AI Summary

On June 12, 2020, Crawford & Company (NYSE: CRD-A), the leading independent claims management provider, announced the sale of its 51% stake in Lloyd Warwick International (LWI). This strategic move simplifies the company’s brand structure, allowing Crawford to consolidate its loss adjusting operations under a single branding approach. President Andrew Bart emphasized that the focus on complex claims remains unchanged, reinforcing commitment to the energy sector.

Positive

• Strategic sale simplifies brand operations under a single master brand.
• Focus on complex claims in the energy sector remains strong.

Negative

• None.

ATLANTA, June 12, 2020 (GLOBE NEWSWIRE) -- Crawford & Company® (NYSE: CRD-A and CRD-B), the world’s largest publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporates, has agreed to sell its 51 percent of shares in Lloyd Warwick International (LWI).

The sale of Crawford’s shares in LWI was a carefully considered strategic decision. LWI was the only loss adjusting brand in the company’s portfolio that stood separate from Crawford and its sale simplifies the company’s loss adjusting operations under one master brand.

“This sale allows us to simplify our loss adjusting brand structure and take a One Crawford approach to the market,” commented Andrew Bart, president of Crawford Global Technical Services. “We remain committed to the energy sector and will now operate solely under the Crawford brand. Our focus on being the best experts for the most complex claims remains unchanged as we continue to deliver on our mission to restore and enhance lives, businesses and communities.”

About Crawford®
Based in Atlanta, Crawford & Company (NYSE: CRD‐A and CRD‐B) is the world’s largest publicly listed  independent provider of claims management and outsourcing solutions to insurance companies and self‐insured entities with an expansive global network serving clients in more than 70 countries. The Company’s two classes of stock are substantially identical, except with respect to voting rights and the Company’s ability to pay greater cash dividends on the non-voting Class A Common Stock (CRD-A) than on the voting Class B Common Stock (CRD-B), subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of CRD-A must receive the same type and amount of consideration as holders of CRD-B, unless different consideration is approved by the holders of 75 percent of CRD-A, voting as a class. More information is available at www.crawco.com.

Media Contacts:
Lynn Cufley
Marketing & Communications Director, International
+44 7585 901936
Lynn.Cufley@crawco.co.uk

FAQ

What did Crawford & Company announce on June 12, 2020?

Crawford & Company announced the sale of its 51% stake in Lloyd Warwick International.

How does the sale of LWI affect Crawford's operations?

The sale simplifies Crawford's brand structure and consolidates its loss adjusting operations.

What is the focus of Crawford after the sale of LWI?

Crawford continues to focus on providing expert solutions for complex claims, especially in the energy sector.

What is the ticker symbol for Crawford & Company?

Crawford & Company is listed under the ticker symbol CRD-A.