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Crawford & Co. on Tuesday said it is simplifying its operating structure to improve profitability and align with the global market for insurers, reinsurers, brokers and self-insured companies.
The restructuring, effective immediately, will affect Crawford's U.S. property/casualty business segments, international operations, third-party administrator Broadspire Services Inc., and legal administrator Garden City Group Inc., the Atlanta-based claims management services provider said in a statement.
Ian V. Muress has been appointed CEO of international operations, According to the statement. Previously head of Europe, Middle East, Africa and Asia-Pacific, Mr. Muress also will take responsibility for Canada and Latin America.
Meanwhile, other business unit heads will retain their current roles, Crawford said. These include Larry Thomas, CEO of U.S. property/casualty and the Contractor Connection segment; Danielle Lisenbey, CEO of Broadspire; and David Isaac, CEO of Garden City — all of whom will report to Harsha V. Agadi, Crawford's interim president and CEO.
“The restructuring allows each operating division to adapt to changing market needs with greater speed and flexibility while ensuring our CEOs are able to devote more time to meeting our many clients' needs in a competitive claims environment,” Mr. Agadi said in the statement.
Earlier this month, Crawford reported that costs related to global expansion and the acquisition of GAB Robins Holdings U.K. Ltd. resulted in a net loss in the third quarter.
Through this restructuring, “we can achieve target operating margins on a business-segment level to further drive company growth and development of additional products and services,” Mr. Agadi said.
Crawford & Co. said Monday that costs related to global expansion and the acquisition of GAB Robins Holdings U.K. Ltd. resulted in a net loss for the Atlanta-based claims management provider in the third quarter.