McLarens’ acquisition of CNZ is expected to open new markets and enhance loss adjusting and claims management capabilities
Independent insurance services provider McLarens has acquired New Zealand-based loss adjusting, claims and repair management firm CNZ Group, along with its subsidiaries, for an undisclosed amount.
Under the terms of the deal, CNZ Group will be part of McLarens’ global core loss adjusting and claims management services operation, under the McLarens brand.
The business, McLarens New Zealand, will be led by CNZ Group CEO Dean Garrod as managing director. Garrod will be supported by CNZ Group’s senior staff in their existing roles.
McLarens chief executive officer Gary Brown said: “At McLarens, we remain committed to providing the highest quality claims management and loss adjusting services to our global clients. Our team constantly seeks to add value either through new speciality service offerings, technology solutions or extending our presence into new attractive markets.
“CNZ Group complements this commitment to our clients and is a perfect fit with our growth strategy. The company has strong leadership and has made significant investments in innovative technology and infrastructure.”
The acquisition builds on McLarens’ strong existing presence in Australia and the Pacific Islands and complements its plans on expanding its global presence in strategic geographic markets.
CNZ was previously operated as an employee-owned affiliate of Crawford & Company in New Zealand with a team of more than 200 employees, working from 26 office locations across the country.
The company is engaged in providing full-service claims handling and dispute resolution, across multiple business lines including property, business interruption, construction & engineering, casualty, motor, marine and professional building consultancy.
CNZ to support McLarens’ loss adjusting and claims management operations
CNZ Group and its subsidiaries are expected to strengthen McLarens’ loss adjusting and claims management operations, with enhanced technical expertise, technology, and international CAT management capabilities.
CNZ Group CEO Dean Garrod said: “We welcome the acquisition and are delighted to join McLarens. McLarens’ keen interest in entrepreneurial spirit and drive for innovative solutions creates the perfect mix as a global partner to help us take CNZ Group to the next level.
“Our two companies are incredibly similar in their culture and business approach. Over the past 25 plus years, our talented adjusting and management team has embraced a service-led approach and has built a leading loss adjusting and claims management company in New Zealand. We continue to innovate, expand and diversify to deliver for our customers.”
Chapman Tripp has served as legal advisor for McLarens for the transaction, while Buddle Findlay served as legal advisor for CNZ Group, which also retained KPMG Corporate Finance for the transaction.