US-based Aquiline Capital Partners has entered into an agreement to acquire a majority stake in Worley Claims Services, for an undisclosed sum.
Established in 1976, Worley provides insurance-adjustment management and services in the US.
Aquiline Capital Partners chief executive Jeff Greenberg said: "Worley has established a leading platform in claims administration and an impressive track record of efficiently managing claims for its clients after catastrophic events and on a daily basis."
Worley offers property, auto, personal lines, and casualty claims adjustment and related services to national and regional insurance companies.
It also provides services to commercial clients and clients in the federal/state government sector.
Worley Claims Services CEO Michael Worley said the Aquiline’s deep understanding of firm’s business and its proven track record across the insurance industry makes them an ideal partner.
"We are extremely appreciative of our former shareholders, Seaport Capital and Advantage Capital, and we are excited to engage with Aquiline to pursue opportunities to further strengthen and expand our client value proposition," Worley added.
William Blair & Company served as financial advisor to Worley, Seaport and Advantage, while Stoneridge Advisors acted as financial advisor to Aquiline.
Aquiline invests in financial services enterprises such as property and casualty insurance, banking, securities, asset management, life insurance and financial technology.
Image: Worley offers insurance-adjustment management and services in the US. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.