The deal will be a significant expansion of DWF's Claims Management and Adjusting (CMA) and wider insurance capabilities in Australia, which has the world’s fourth largest Lloyd's market behind the US, UK and Canada.
Proclaim was founded in 1999 by Jon Broome, who remains as the company's Managing Director and will continue to lead the team post-transaction. It has its main office in Melbourne and a second location in Sydney.
Proclaim now has a team of 60 people and is widely regarded as the premier Australian claims management business for the London market. It has an excellent reputation, reflecting its dedication to innovation, client satisfaction, and industry leadership.
This transaction will add to DWF's global presence in CMA. Post-completion, its CMA team will comprise 320 colleagues based across nine jurisdictions. There is significant client overlap between the firms, as well as the opportunity to build relationships with corporate clients of Proclaim.
In addition to the immediate CMA opportunity, DWF expects to invest in further growing its insurance-focused legal teams in Sydney, Melbourne and other key centres.
Group CEO, Sir Nigel Knowles, said: "This acquisition will mark a significant step forward in our growth strategy, reinforcing our commitment to expanding our footprint in key global markets. Proclaim's outstanding reputation and expertise align perfectly with our vision and should everything progress as planned, we look forward to welcoming them in the near future."
Jon Broome, founder of Proclaim, added: “We are very proud of the business we have built over 25 years and the market leadership position we have reached in insurance claims management. We are excited for the next phase of our development in partnering with a global leader in claims and legal services and what that can offer for existing and prospective clients."
The transaction is expected to complete in 4-6 weeks, subject to regulatory approvals.
