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Crawford & Co returns to profit on weather claims

 US-based loss adjuster Crawford & Company returned to profit in the second quarter after a surge in weather-related claims.

The company made a profit of $US13.5 million ($13 million) compared with a $US2.5 million loss ($2.4 million) in 2010, with revenues up 22% to $US291 million ($280 million).

CEO Jeffrey Bowman says the Americas saw growth in weather and catastrophe-related events while Europe, the Middle East and Africa and Asia-Pacific revenues rose 24% on “a substantial increase in weather-related claims activity in our key UK and Australian markets”.

There was also a strong performance from Crawford’s Legal Settlement Administration arm, which is handling claims from the Deepwater Horizon oil spill.