BV acquires maritime loss adjuster
Global maritime classification society and service provider Bureau Veritas has acquired MatthewsDaniel Ltd, a global specialist in loss adjusting and risk assessment services for the offshore industry.
Created in Houston, Texas, in 1962, MatthewsDaniel is headquartered in London and has operations in Europe, the Middle East, Asia and the Americas. The company employs more than 150 people and reported revenues of approximately EUR 34M in 2013.
MatthewsDaniel primarily provides services for the insurance market. Their loss adjusting activities include incident investigations, root cause analysis, damage and reinstatement assessment and cost estimation. Their risk assessment portfolio focuses especially on Marine Warranty Surveying activities for both offshore projects and rigs.
MatthewsDaniel has a very strong position in the offshore oil and gas industry. The services they offer for the upstream energy market are driven by an increasing number of installations in operation and particularly drilling units. This new acquisition allows Bureau Veritas to enter the loss adjusting business and strengthen its position in risk assessment.
By Jake Frith
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