Fiscal Year 2005 Results
Atlanta, GA - August 30, 2005 - FOR IMMEDIATE RELEASE
Continuing a very positive trend, CIA ended its fiscal year on June
30, 2005 with an increase in revenue of 10.2% for the U.S. and Puerto
Rico. On June14 we concluded the sale of Custard Insurance Adjusters,
Canada and our eleven offices in the province of Ontario to Shumka
Craig Moore Adjusters Canada, Ltd (SCM). The effective date was
May 1, 2005. The average annual rate of growth over the last three
years has been 14.7%.
The company's profits have also been strong over the same period,
up 9.8% in FY 2005 over FY 2004.
Executive Vice President, Robert Soby comments, "CIA's success
over the past few years is due to the hard work of many members
of our staff from the adjusters and administrative support in the
branch offices, through our regional and district managers as well
as the support staff in our home office in Norcross, GA. We also
cannot fail to mention our loyal customers who have helped us to
achieve these above average results. Many of them have been with
us for a considerable number of years while others have recently
begun utilizing our services. As stated elsewhere on our website,
our mission is to provide clients with the highest quality of claim
service available in the industry. We strive every day to improve
upon our performance."
While our association with SCM is fairly new, we believe there are
significant opportunities for both companies in developing a close
relationship, a North American Alliance. We have already seen instances
where we each have responded to clients who conduct business in
both countries and needed a response that would include support
throughout the U.S. and Canada.
According to Soby, "Marketing strategies are already underway
and joint contacts planned. We expect CIA and SCM will see substantial
opportunities in the future as a result of this new alliance."
CIA is financially strong and we look forward to many more years
of double-digit growth, providing us the opportunity to service
clients better and to offer further opportunities to our staff.
Custard Insurance Adjusters,
Inc. is a privately held corporation and does not publish its results
for general distribution. This is the first time we have provided
any information of this type to the public.
About Custard
Custard Insurance Adjusters, Inc. is one of the largest independent
loss adjusting companies in North America. Headquartered in Atlanta,
Georgia, Custard has over 600 employees and 240 offices serving
the U.S. and Puerto Rico. The company is the largest, privately
held adjusting company offering true multi-line services that include
casualty, liability and property claims management as well as personal
and commercial transportation services. Custard's specialty divisions
also provide services in the areas of third party administration,
catastrophe, environment, international, investigation, litigation,
subrogation, marine, and warranty & inspection services.
News Contact:
Susan Meadows
Custard Insurance Adjusters, Inc.
smeadows@custard.com
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