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Crawford & Company Q2 revenue up 9% 

Claims management firm Crawford & Company posted a 9% rise in year-on-year revenue to $US320.67 million ($490.13 million) in the second quarter. 

Australian revenues were 7% of the total, coming in at $US22.93 million ($35.05 million) in the second quarter and $US45.92 million ($70.19 million) in the first half. 

In the three months to June 30, global net income rose 45% to $US8.4 million ($12.84 million) and revenue grew across all business segments. 

“We continued our trend of growth and margin improvement with another strong performance in the second quarter,” CEO Rohit Verma said. "Our international business performed well, with improved margins reflecting work done on cost efficiency in 2022 as well as growth in the current year.” 

Mr Verma says climate change is increasing the frequency and severity of catastrophes, and Crawford & Company’s services “are necessary as carriers and other providers need increased resources to help policyholders recover in the aftermath”.  

Insurers were also more frequently outsourcing major and complex claims, he says. 

"Our scale and reach are a considerable competitive advantage,” Mr Verma said. 

Second quarter revenue rose 15% in North America Loss Adjusting, 22% in Platform Solutions, 1.7% in international operations and 4.7% in the Broadspire segment. 

Crawford says it manages $US18 billion ($27.5 billion) in claims a year across 70 countries.