Leading international loss adjuster, McLarens, has today announced a merger with Agrical in the UK. Agrical is a leading provider of loss adjusting and claims management services, specialising in the farming, estates, commercial leisure and high net worth markets.
The move elevates McLarens to become the largest UK niche commercial loss adjusting business, in addition to creating a significant platform for expansion into the agriculture and related markets across McLarens’ global footprint.
McLarens has grown significantly in recent years, both organically and by acquisition, and this is the specialist adjuster’s second major UK transaction since launching there in 2006. On an international level, McLarens merged with the leading global aviation adjuster, Airclaims, headquartered in the UK, in 2011. More recently in the UK, McLarens secured a 50% share of Zurich’s commercial business and a place on the major loss panel, as well as expanding its All Ireland offering with the opening of an office in Derry/Londonderry. This latest move with Agrical will further consolidate its position as a leading player in the UK commercial claims market.
Agrical was formed in 2002 with a core focus on agricultural claims but has since expanded into complimentary related markets including estates, commercial leisure, renewable energy and high net worth. The business now employs 50 staff across 22 UK locations.
Now trading as Agrical, a McLarens Company, the business will continue to operate independently but now as a fully owned entity within the McLarens group. Agrical retains the same management team and staff who have been integral to the success of the business thus far.
Trevor Latimer, McLarens’ Managing Director, said: “Since re-launching the UK business, we have focused very much on organic growth and in that time, have opened a further 13 offices across the UK and Ireland, seeing revenue increase 12 fold. It is clear in my mind that there is a significant appetite for our model. We retain a commitment to specialising in commercial loss adjusting, bringing true added value whilst distancing ourselves from trailing supply chain solutions which bolster revenue but create so many obvious strategic and ethical conflicts. One of our key strategic objectives is to be recognised as the leading provider of niche technical loss adjusting services, not just in the general commercial market, but in specialist product lines too. With Airclaims, we acquired the market leader in the aviation market. For agri-related claims, it is Agrical. Agrical operate a traditional practitioner led model, as do we, focusing on technical loss adjusting, in a very distinct market, with a very savvy and loyal client base. We are thrilled to be merging with such a well respected and renowned firm. ”
Mike Collins, Agrical Chief Executive, said: “There are many similarities between Agrical and McLarens in style, structure and ethos. Like McLarens, we have built our reputation on traditional specialist loss adjusting. It is important to us and our clients that we partner with a business that shares our philosophies. My personal relationship with Trevor stretches back over many decades to our days on Tyneside and is based on a mutual belief of what loss adjusting should be about. I am delighted that we will be joining Trevor and his team. Our client offering will be enhanced by having access to McLarens’ global network and broad range of expertise, and we will continue to be second to none in our chosen field.”