Worley Claims Services, LLC, a provider of claims services in North America, has acquired Audit Services Incorporated (ASI), a claim estimate writing and review supplier for the property and auto insurance markets based in Atlanta. Financial terms of the transaction were not disclosed. StoneRidge Advisors, LLC advised Worley on the transaction.
Founded in 1998, ASI provides estimate writing and review services for its property and auto clients throughout the United States. Through its workforce of approximately 350 employees, the company specializes in desk estimate review, post repair audits, total loss estimates and call center capabilities, among other offerings.
According to Jim Pearl, CEO of Worley, the acquisition of ASI offers Worley a platform to help expand its property and auto estimate review services and enhances its capabilities to service its national and regional insurance carrier partners.
John Hall, CEO of ASI, said all 350 employees of ASI are expected to continue in their current roles.
The transaction with ASI is Worley’s sixth acquisition since 2015. In July of 2015, Worley acquired Fishers, Indiana-based NCA Group, a provider of daily and catastrophe residential and commercial property claims services throughout the U.S. In October of 2015, Worley acquired Charlotte, North Carolina-based RJMW Claims Services, a regional provider of daily and catastrophe residential and commercial property claims services.
In July of 2016, Worley acquired San Jose, California-based Summit Independent Claim Services, which provides commercial/GA and residential property loss adjusting services. In August of 2016, Worley acquired Orlando, Florida-based Nexxus Solutions Group, a national managed repair contractor and service provider network serving the property insurance industry in the U.S. and Canada.
Most recently, in June of 2017, Worley acquired Massachusetts-based Apex Claims Services of New England, a regional provider of property claims services.
Worley is based in Hammond, La., and provides property, auto, and casualty claims adjustment services and staffing services to national and regional insurance companies, MGAs, TPAs, self-insured corporations, as well as clients in the federal/state government sector. Aquiline Capital Partners, a New York-based private equity firm investing in financial services, acquired a majority stake in Worley in October of 2014.
ASI is an estimate review supplier for the property and vehicle insurance markets. ASI handles reviews on automobiles, trucks, marine, heavy equipment, off road vehicles, tractors, trailers, recreational vehicles, homeowners’ losses, personal property, commercial property, utility claims, municipality (public) losses, water mitigation & specialty items.
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