Insurance: Sedgwick CMS completes purchase of Specialty Risk Services

SRS, provides claims and risk management services to self-insured and insured clients. Sedgewick says that the deal "reinforces Sedgwick CMS's position as the largest independent North American provider of claims administration services."

Together Sedgwick CMS and SRS will have 8,500 staff and will generate an annualised revenue base approaching USD1,000 million. In the near term, the operations of the newly acquired business will continue to use the SRS name.