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Worley Claims Services Acquires Audit Services Incorporated

Press Release from Worley Catastrophe Response

HAMMOND, La., Feb. 1, 2018 /PRNewswire/ -- Worley Claims Services, LLC ("Worley"), a recognized leader in providing insurance claims services in North America, today announced the acquisition of Audit Services Incorporated ("ASI"), a claim estimate writing and review supplier for the property and auto insurance markets. Financial terms of the transaction were not disclosed. StoneRidge Advisors, LLC advised Worley on the transaction.

Founded in 1998, ASI has established itself as a leader in providing the highest quality estimate writing and review services for its property and auto clients throughout the United States. Through its talented and experienced workforce of approximately 350 employees, the Company specializes in providing best-in-class offerings including desk estimate review, post repair audits, total loss estimates and call center capabilities.

"ASI's leadership and highly skilled employees have established a reputation in the industry for delivering outstanding services to their clients. ASI offers Worley a strong platform to help expand our property and auto estimate review services," said Jim Pearl, CEO of Worley. "This acquisition enhances our capabilities to service our national and regional insurance carrier partners and aligns with our long-term strategy to continue making investments that will allow us to be a more comprehensive service provider capable of meeting the needs of our clients throughout the claim lifecycle."

John Hall, CEO of ASI, stated, "I am excited to partner with Worley to continue to build and expand ASI. Worley's resources and capabilities as a leader in the North American claims services market should accelerate ASI's ability to implement its growth strategy and deliver innovative solutions to the property & casualty market. The two organizations share a similar culture focused on providing superior customer service to our clients and strong career opportunities for our employees. I am pleased that all 350 experienced and talented employees of ASI are expected to continue in their current roles and have excellent opportunities going forward as part of a larger organization."

The transaction with ASI is Worley's sixth acquisition since 2015. In July of 2015, Worley acquired Fishers, Indiana-based NCA Group, a provider of daily and catastrophe residential and commercial property claims services throughout the U.S. In October of 2015, Worley acquired Charlotte, North Carolina-based RJMW Claims Services, a regional provider of daily and catastrophe residential and commercial property claims services. In July of 2016, Worley acquired San Jose, California-based Summit Independent Claim Services, which provides commercial/GA and residential property loss adjusting services. In August of 2016, Worley acquired Orlando, Florida-based Nexxus Solutions Group, a national managed repair contractor and service provider network serving the property insurance industry in the U.S. and Canada. Most recently, in June of 2017, Worley acquired Massachusetts-based Apex Claims Services of New England, a regional provider of property claims services.

About Worley Claims Services
Worley, based in Hammond, Louisiana, is one of the largest independent providers of insurance claims management services in North America. Worley provides property, auto, and casualty claims adjustment services and staffing solutions to national and regional insurance companies, MGAs, TPAs, self-insured corporations, as well as clients in the federal/state government sector. Aquiline Capital Partners, a New York-based private equity firm investing in financial services, acquired a majority stake in Worley in October of 2014. For more information, please visit: www.worleyco.com.

About Audit Services Incorporated
Audit Services Incorporated is an Atlanta, Georgia-based estimate review supplier for the property and vehicle insurance markets. ASI has extensive experience in handling reviews on automobiles, trucks, marine, heavy equipment, off road vehicles, tractors, trailers, recreational vehicles, homeowners' losses, personal property, commercial property, utility claims, municipality (public) losses, water mitigation & specialty items. ASI's mission statement is to provide distinctive quality and unparalleled customer service through our innovative processes while exemplifying the highest integrity. For more information, please visit: www.asiclaims.com.

Media Contacts:
Alex Yankus / Harry Mayfield
Brunswick Group
+1 212 333 3810

Business Contact:
Jeff Schmitt – Senior Vice President
Worley
+1 317 915 8888

Mergers and Acquisitions Contact:
Tom Laughner – Vice President
Worley
+1 317 915 8888

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SOURCE Worley Claims Services, LLC

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