US based third party claims administrator TRISTAR Risk Management has completed the acquisition of Risk Enterprise Management (REM).
TRISTAR Risk Management founder Tom Veale said the company is approaching the combination of the two companies as a merger to leverage the complementary strengths of both organizations.
"The REM brand will be retired and the organization will be known as TRISTAR Risk Management going forward," Veale said.
The companies claim that the combination is expected to enhance national property & casualty TPA, offer deep analytical and IT resources and an expanded claims management offering.
The new combined firm is anticipated to generate about $100m in annual revenues and will employ about one thousand employees in 44 offices placed in 25 states and all metropolitan areas within US.