Loss adjuster Cerno has sold its agricultural claims business as it continues to overhaul its operations.

The firm’s 40% shareholding in Cerno Agriculture was purchased by majority shareholder Ken Bullen, who acted as Cerno’s agricultural expertise leader.

From today, the company will trade as Ag Claims, but there will be no changes to staff or client services.

Cerno MD Tony Button says the move is in the interests of both parties. “We have been reviewing all our business units to ensure we are focusing on areas where we can offer specialist expertise.”

Cerno has been working towards an enhanced operating model with claims service provider Stream, which owns 39% of the loss adjuster. The companies are also discussing a possible merger.

Stream MD Don McKenzie told insuranceNEWS.com.au the sale of the agriculture business – for an undisclosed fee – is further evidence of Cerno’s transformation.

“You’re better off concentrating on your core business,” he said.