U.S., British Adjusting Firms Plan Merger

NU Online News Service, Oct. 25, 3:40 p.m. EST?Two loss adjustment firms, Maxson Young Associates, Inc. in Atlanta and McLarens International Group Ltd. in London, announced yesterday that they plan to merge.

Maxson Young said the merger would make the combined company the only employee-owned loss-adjusting firm with a global network of owned offices.

Announcement of the proposed merger came at a reception in New York marking Maxson Young's 20th anniversary.

"Our companies are united by shared values and similar philosophies. In simple terms, quality service is our product and quality people are our most important asset," said Vernon F. Chalfant, chairman and chief executive officer of Maxson Young.

"The combined expertise and resources of our two firms will enable us to deliver the highest quality risk management and claim services to our clients around the globe through the strongest worldwide network in our industry," he added.

The two firms said they expect to complete the merger, with a common brand and management, by early 2003. Terms were not been disclosed.

Peter Tinsley, chief executive of McLarens International, said, "The world of insurance and risk management is experiencing sweeping changes and great challenges. By joining forces, we can help our clients meet those challenges and reach their full potential."

Founded 20 years ago, Maxson Young provides loss adjustment, third-party administration and other claim services.

In 1992, Maxson Young was bought by its management and is currently employee-owned.

Maxson executive offices are located in Atlanta, and its administrative office is based in San Francisco. It also has offices in Boston, Chicago, Dallas, Houston, Los Angeles, Miami, New York, Seattle, Washington, D.C., and Portland, Ore.

The firm began as the U.S. subsidiary of Graham Miller International, and it was later sold to Toplis & Harding PLC of London.

McLarens International is a global group of companies that provides loss adjusting, claims management, pre-risk and damage survey services. The group's origins can be traced to McLaren Dick & Co. Ltd., a company founded in Scotland in 1931. Since then, the group has progressively built a team of experts who specialize in the needs of international commercial and industrial businesses.

McLarens International has its head office in London and provides services through an integrated network in more than 80 countries.

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U.S., British Adjusting Firms Plan Merger

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