Lake Zurich, Ill.-based Broadspire Services Inc. has signed a definitive agreement to acquire the United States third-party administration assets of Cunningham Lindsey Claims Management Inc. and RSKCo Services Inc. from their parent company, Lindsey Morden Group Inc.
Broadspire said in a statement that it intends to integrate CMI and RSKCo into its existing operations to create one of the largest independent TPAs in the country. The company expects the transaction to be completed by the end of next week.
Dennis Replogle will continue in his role as president and CEO of the integrated company, and the Broadspire executive team will assume leadership of the new, expanded organization.
CMI and RSKCo are Lindsey Morden’s third-party claims administration businesses in the United States. Lindsey Morden is a holding company that, through its subsidiaries, provides a wide range of independent insurance claims services, including claims adjusting, appraisal and claims and risk management services.
Broadspire, formerly Kemper Services, was purchased from the Kemper Insurance Cos. by Platinum Equity Services Inc. last year.
Topics Mergers & Acquisitions Claims
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