The deal provides a ‘strategic fit’ to boost market presence within the natural resources sector
Insurance services provider McLarens has acquired global loss adjusting and claim management firm Lloyd Warwick International (LWI) in order to expand its natural resources loss adjusting capabilities.
LWI, which provides engineering, forensic and technical claims support services, has expertise in complex onshore, offshore and renewable energy claims, particularly focusing on the energy, marine, mining, power generation, renewables and special risk sectors.
Headquartered in London, the 50-strong team works with clients across the UK, Europe, the Americas, Middle East, Asia Pacific and South Africa.
Following the acquisition, LWI will merge with McLarens’s natural resources specialties service, but will retain its London location. The new combined group will operate under LWI’s brand, led by the firm’s chairman Joe McMahon.
Matthew LeBrun, who has worked at McLarens for the past five years, will become head of natural resources in the Americas – an area earmarked for expansion.
He said: “The acquisition will help accelerate our growth and innovation. Our goal is to bring together our experience, talent and strength into a unified organisation to accelerate further growth.
“The combined specialty practice will be the global leader in the natural resources loss and claims management.”
Financial terms of the transaction have not been disclosed.
Both organisations define the deal as a “strategic fit” – McLarens said the acquisition aligns with its strategy to strengthen its technical services and multi-disciplinary consulting capabilities in natural resources as well as increases its market presence, especially within the oil and energy sector.
Gary Brown, chief executive at McLarens, said: “The Lloyd Warwick International name, like McLarens, is globally recognised and associated with quality, technical expertise, and the best loss adjusting and claims management service.
“The company has a leading reputation in the energy and oil market internationally, which will transform McLarens’ footprint in the natural resources sector. Together, we will advance our strategy of offering a broader depth of loss adjusting and technical services, a wider range of insurance consulting solutions, and an enhanced ability to serve major complex claims in the onshore and offshore energy market.”
Joe McMahon, LWI chairman, added: “The LWI team welcomes the acquisition and is delighted to join the McLarens family of companies.
“Two leading loss adjusting and claims management brands just got stronger. The quality of work and technical expertise that McLarens fosters is complementary to our practice.”
LWI was jointly owned by LWI employees and Crawford and Company.
Advisers to the deal include Norton Rose Fulbright as McLarens’s legal advisers, while Crawford and Company was advised by DLA Piper and the LWI employee shareholders were represented by Ashfords.