Top loss adjusters talk merger

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7 January 2009

Consolidation at the top end of the loss adjusting sector has taken a big step with the announcement by Freemans Australia and McLarens Young International Australia (MYI) that they are discussing a merger.

MYI MD Ian Simpson says the merger will create the largest claims organisation in Australia and be entirely employee-owned.  It will operate from 60 locations around Australia and have more than 550 staff.

InsuranceNEWS.com.au understands the two companies’ New Zealand operations would probably be brought into the merger process once the Australian details have been finalised.

“A merged organisation would result in the enhancement of client service, achieve cost efficiencies and assist with the development of an increased range and depth of services to underwriters, brokers and self-insured entities,” Mr Simpson said.