Carlyle acquires majority stake in Sedgwick

September 13 2018 by InsuranceAsia News Staff

Private equity firm Carlyle has bought an undisclosed majority stake in Sedgwick Claims Management Services, the largest insurance claims services provider in the US, from rival KKR for around $6.7 billion.

Stephen Wise, managing director and global head of healthcare for the Carlyle Group, commented: “We are excited to collaborate with Sedgwick, which has distinguished itself by constantly improving the claims management and loss adjusting process to the benefit of all key stakeholders, including its colleagues, customers, insurance companies and brokers.”

Sedgwick employs 21,000 people and is led by president and CEO David North.

The firm is currently integrating global loss adjuster Cunningham Lindsey under its brand after agreeing to acquire the firm late last year; the deal was completed in April.

Funds managed by Stone Point Capital and Caisse de depot et placement du Quebec (CDPQ), together with Sedgwick management, will remain minority investors.
KKR bought its stake in Sedgwick for $2.4 billion in the first quarter of 2014.