Loss adjuster GAB Robins has been acquired by Brera Capital, a New-York based investment firm, from its Swiss parent company Societe Generale de Surveillance (SGS).

GAB Robins claims to be the second largest independent loss adjuster in the world with sales of about $380m.

The loss adjuster has a turnover in excess of £40m in the UK.

The takeover has rumbled on since February when SGS first announced it wanted to dispose of the group after poor results.

UK chief executive Philippe Bes said the group would now have the capital behind it to make acquisitions in

the future.

"For the previous shareholders, GAB Robins was a diversification from their core business – it did not get all the attention," he said.

"We can now expect an injection of the capital in the future because our present shareholders will be prepared to support the expansion of the group."

He added that he was relieved that the question mark over the future parent had now been lifted, which UK competitors had tried to capitalise on.

"Many of our competitors seized on the takeover to make negative comments about us and try to poach our staff."

Under the deal, Brera will acquire 90.5% of the stocks through its subsidiary Brera GAB Robins LLC, while SGS will retain 9.5% common stock interest. SGS will retain the ownership of Intermodel Transporatation Services, the auto and marine inspection business of GAB robins.

Brera chief executive Jon Tsusaka said: "We believe major companies in the insurance sector will continue to refine their focus on core competencies and cost control.

"We at Brera will provide the company with a new level of dedicated, focused stewardship challenging GAB Robins to pursue an ever-broader range of opportunities in its industry sector with renewed aggressiveness."

Worldwide, GAB Robins operates in 40 countries and employs 4,600 staff. It handles 1.7m claims annually.