US company Sedgwick acquires Irish outsourcing firm OSG Group
Risk solutions firm Sedgwick has acquired Irish-owned outsourcing provider OSG Group for an undisclosed fee.
The deal marks the US-headquartered company's first investment into Ireland as it continues to expand its global footprint.
Under the agreement OSG's team of over 400 staff across eight locations in Ireland will join Sedgwick's international operations and its subsidiary Vericlaim.
OSG chief executive Malcolm Hughes said becoming part of Sedgwick is a "terrific opportunity" for the company's staff.
“We will all benefit from their unparalleled depth of resources and knowledge. Sedgwick’s investment in OSG demonstrates the confidence of an industry leader in our talented team and the strength of the financial services market in Ireland.
"Together, Sedgwick, Vericlaim and OSG will offer a broad array of best-in-class outsourced services to the global insurance market and to customers the world over," he said.
OSG provides property and liability loss adjusting services, as well as third-party administration, motor and specialist claims and customer support.
Sedgwick president and chief executive Dave North described Ireland as a "natural fit" for the firm's next move.
“OSG has been an esteemed member of our vrs Adjusters network for more than a decade, earning a stellar global reputation in both loss adjusting and claims administration. The leading-edge services they provide nicely complement the strategic solutions offered through our Sedgwick and Vericlaim brands.