CLAIMS
The Penn Mutual Life Insurance Company | November 23, 2021
The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that the company has maintained its dividend scale for 2022 and the Board of Trustees has approved a $123 million payout to eligible policyholders in 2022.
Dividends are a key measure of a mutual company's performance and Penn Mutual has consistently paid dividends to eligible policyholders for nearly 175 years. This announcement extends the company's long track record of delivering strong performance and value to policyholders.
"We're proud to continue our track record of financial strength and maintain our dividend scale, A mutual life insurance company's ability to consistently pay dividends is a solid indicator of its financial strength. Over the last 20 years, our dividend action remains one of the strongest and most consistent in the industry, reinforcing our commitment to serving the best interests of our policyholders and financial professionals now and into the future."
- Eileen McDonnell, chairman and CEO.
About The Penn Mutual Life Insurance Company
Penn Mutual helps people become stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people's ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly-owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC.
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INSURANCE TECHNOLOGY
-Crawford & Company | August 24, 2021
Crawford & Company, the world’s largest publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations, has acquired edjuster, a technology-driven field and desktop contents claims handling solutions company.
edjuster is the established leader in contents services with 20 years of recognized experience in both the U.S. and Canada. This solution operates on a proprietary contents management platform that offers a full-featured, easy-to-use contents inventory and valuation solution for both high severity complex claims and high-volume, small claims. The acquisition of edjuster adds a digital component to Crawford’s existing contents valuation service, expands Crawford’s current capabilities in North America and supports its purpose to restore and enhance lives, businesses and communities.
According to Pat Van Bakel, president, Loss Adjusting, North America, “This combination will bring together Crawford’s global reach and expansive services with edjuster’s digital capabilities and niche expertise. We are excited to join forces with this established and expanding company. Their proven execution capability, strong client relationships, solid technology platform and scalable operating model will allow us to offer more robust digital services to Crawford customers.”
“This acquisition is a tremendous fit for edjuster given the synergies between our organizations. The opportunity to become part of a much larger claims operation covering all of North America provides invaluable expertise to the Crawford suite of services and adds enormous depth and flexibility to our existing capabilities both in the field and behind the desk,” said Andy Williams, edjuster’s chief executive officer.
Crawford Chief Executive Officer, Rohit Verma added, “At Crawford, we have a relentless pursuit of service excellence, and edjuster’s ability to combine technology and people takes us one step closer to our goal to reimagine the claims ecosystem. Additionally, this combination will help us achieve our envisioned future and brand promise, making Crawford the embedded partner of choice in the insurance industry.”
About Crawford®
Based in Atlanta, Crawford & Company is the world’s largest publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations with an expansive global network serving clients in more than 70 countries. The Company’s two classes of stock are substantially identical, except with respect to voting rights and the Company’s ability to pay greater cash dividends on the non-voting Class A Common Stock (CRD-A) than on the voting Class B Common Stock (CRD-B), subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of CRD-A must receive the same type and amount of consideration as holders of CRD-B, unless different consideration is approved by the holders of 75 percent of CRD-A, voting as a class.
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INTELLECTUAL PROPERTY
MarshBerry | January 19, 2022
MarshBerry, a leading investment banking and consulting firm serving the Insurance Distribution and Wealth Management industries, is pleased to announce its partnership with Atlas Merchant Capital ("Atlas").
The new partnership will help MarshBerry accomplish its growth goals by improving and expanding services to create even better outcomes for clients. This partnership provides access to additional resources to help execute on strategic growth initiatives including expanded client solutions and acquisitions domestically and in Europe.
"This is a really important event for our company. Partnering with Atlas advances our ongoing efforts to aggressively and intentionally grow and improve in all facets of our business, which will translate directly into benefits for our growing client base, Our leadership team remains committed, invested and excited about how this will help us continue to grow by enhancing the solutions provided to our client base."
-John Wepler, MarshBerry CEO and Chairman.
"We have been impressed with the accomplishments, growth and vision of MarshBerry and believe our investment will serve as a springboard to achieve the near-term and long-term strategic goals,"
- Colin Savage, Atlas Managing Director, Head of North America Investments.
Houlihan Lokey served as financial advisor to MarshBerry in connection with the transaction.
About MarshBerry – Helping Clients Learn, Improve & Realize Value
Founded in 1981, MarshBerry serves the insurance distribution and wealth management industries, including insurance agents & brokers, specialty distributors, private equity firms and wealth management firms. MarshBerry's industry-specific services help clients build, enhance and sustain value through: Merger & Acquisition Advisory*, Debt & Equity Capital Raising, Financial Consulting, Market Intelligence & Benchmarking, Organic Growth Consulting, Connect Executive Peer Exchange and Connect Platform Aggregation. Learn more at www.MarshBerry.com.
About Atlas Merchant Capital LLC
Atlas Merchant Capital LLC was founded to participate in compelling market opportunities in the financial services sector. Based in New York and London, Atlas Merchant Capital was founded by Bob Diamond and David Schamis, who together with their partners form a complementary partnership with extensive operating and investing expertise across the financial services landscape.
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