Royal & Sun Alliance (R&SA) has paid £3m for Independent Insurance's loss adjusting arm Property & Casualty Services (PCS).
R&SA will take control of PCS's assets, including 300 claims adjusters, starting today, under a Trasfer of Undertakings (Protection of Employment) (TUPE) arrangement.
Managing director Barry Woodward will remain in control and the company will continue to handle Independent claims, plus seek other outside business.
Independent's liquidators Pricewaterhousecoopers (PWC) oversaw the sale.
PWC's Mark Batten said the sale made a "great deal of sense".
"We achieved a fair value for the business and we have avoided wholesale redundancy for the PCS staff," Batten said.
"R&SA will continue the the adjustment of existing Independent claims at a discounted cost."
