Capita deal includes majority of management team and support staff
Vericlaim UK has snapped up loss adjusters Teceris from Capita, as revealed by insurancetimes.co.uk on Monday.
The buy-out was led by former Teceris director Stewart Steel, who is now managing director of recently launched Vericlaim UK.
The deal, for which terms were not disclosed, is set to be finalised on 31 January next year. The acquisition includes the majority of Teceris’s management team, as well as its technical and support teams in the UK, the companies said in a statement.
Steel said that Vericlaim UK would continue its focus on the resolution of high-end, complex and major losses with the addition of Teceris.
He commented: “This transaction is an exciting development for Vericlaim UK and provides a fantastic springboard to launch our new UK venture.”
Vericlaim chairman Joseph Dotoli added: “This transaction is consistent with several of our corporate goals, including recruiting, retaining and advancing the brightest claims talent in the industry.
"After many years of working closely with the TCCA team, we are excited about the prospects of building the leading UK loss-adjusting business together."
Capita declined to comment.
The acquisition ends speculation over the future of the company following the resignation of six senior staff in August. Capita said at the time that “current market conditions” were forcing it to make redundancies, when instead it wanted to focus on “operational performance” and “business development”.
The Chartered Institute of Loss Adjusters’ former president, George Moss, was understood to be one of the more recent high-profile departures from the company. It is not yet known whether he will be part of Vericlaim UK.