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Vericlaim Inc., a subsidiary of Sedgwick Claims Management Services Inc. said Monday that it has acquired Jacksonville, Florida-based First Choice Repair Network.
The terms of the transaction were not disclosed.
First Choice Repair is a managed repair network of contractors servicing damaged commercial and residential properties.
“Vericlaim’s reputation in the claims industry was built on expertise in field adjusting for complex, high-severity property loss claims,” Michael Arbour, CEO of Naperville, Illinois-based Vericlaimsaid in a statement.
“With the addition of First Choice Repair, Vericlaim is now able to offer a more robust response to high-frequency, low-severity property events resulting from catastrophes or daily claims. First Choice Repair’s large and well-credentialed contractor network, strong client base and talented team led by president and CEO William Breslin will be great assets to our organization. We are excited for the opportunity to work together to help a broader base of customers make things right in the aftermath of catastrophic and everyday property damage.”
French insurer AXA S.A. said that it has completed the acquisition of Brazilian insurer SulAmerica S.A.'s large industrial and commercial risk subsidiary, reports El Economista.