Global claims administrator Sedgwick has announced the acquisition of York Risk Services Group, a Jersey City-headquartered provider of claims administration, managed care, specialized loss adjusting, pool administration and loss control solutions.
Once the transaction receives the regulatory nod, Sedgwick will gain more than 60 offices across the US and nearly 5,000 employees, taking its total workforce up to nearly 27,000. York offers customized claims solutions to a variety of clients, including corporations, the insurance industry and public entities.
“Today’s news marks another exciting milestone in our storied 50-year history of growth,” said Sedgwick president and CEO Dave North, referencing the company celebrating its golden anniversary in 2019. “The strategic acquisition of York enhances Sedgwick’s status as a global industry leader.
“At Sedgwick, taking care of people is at the heart of everything we do. Bringing together the expertise and capabilities of Sedgwick and York will allow us to serve more customers in more places and show an unprecedented number of people how caring counts.”
Thomas Warsop, chairman and CEO of York, described the deal as “great news for all”. He said: “Joining forces with Sedgwick will provide enhanced capabilities for York’s clients and new opportunities for our associates.”