Crawford & Co.
Annual Report 2017

Plain-text annual report

A N N U A L R E P O R T 2 0 1 7 RESTORING AND ENHANCING LIVES, BUSINESSES, AND COMMUNITIES 02 Lives 04 Businesses 06 Communities 08 Letter to Our Shareholders 12 Our Values 14 Crawford Claims Solutions 17 Crawford Specialty Solutions: Contractor Connection®, GTS™, GCG® 21 Crawford TPA Solutions: Broadspire® 22 Corporate Social Responsibility 24 Financial Highlights 26 Financial Statements A N N U A L R E P O R T 2 0 1 7 L I V E S B U S I N E S S E S C O M M U N I T I E S AT THE HEART OF EVERY CLAIM IS A LIFE, BUSINESS OR COMMUNITY AFFECTED BY LOSS. Crawford® claims professionals focus every day on helping every one of its stakeholders affected by a loss – insurers, brokers, companies, policyholders, homeowners and injured employees – to not only manage their claims with proficiency and technical expertise, but also with empathy. That’s our mission: restoring and enhancing lives, businesses and communities. AR/17 2 L I V E S RESTORING AND ENHANCING LIVES CONVENTIONAL WORKERS COMPENSATION PROGRAMS FOCUS ON THE INJURY AND THE CLAIM. CRAWFORD’S GLOBAL TPA, BROADSPIRE, PARTNERS WITH SOME OF THE WORLD’S LARGEST EMPLOYERS IN PROGRAMS TO MAKE WORKPLACES SAFER AND TO DRIVE BETTER OUTCOMES FOR BOTH WORKERS AND EMPLOYERS. 66 K Number of Medical Professionals Working for Northwell Health, New York’s Largest Private Employer BY THE NUMBERS 22.3% Decrease in Injury-Related Absences $1.2M Savings 900 Employees Placed in Transitional Work C&C 3 New York State’s largest private employer and Broadspire are breaking new ground with a workers compensation program that has decreased absences and saved millions of dollars in disability-related costs. Crawford’s global TPA, Broadspire, and Northwell The employer’s Workforce Safety Return to Health, an integrated health system that employs Work team has provided 900 employees with more than 66,000 medical professionals, have transitional work assignments, up from about teamed up in an effort that has dramatically 50 since the initiative began, and returned 22 improved workplace safety, lowered disability time employees to work who had been out for over and improved employee well being. a year. These assignments support employees Launched in 2015, the new program lowered injury-related absences by 22.3% in 2017, saving during the healing process by allowing them to return to their routines and lives. the employer $1.2 million in estimated backfill and The partnership between the health system employee-related costs, and over $4 million since and Broadspire has lowered the cost of claims, program inception. reduced disability time and created a more positive working environment for employees. 4 RESTORING AND ENHANCING BUSINESSES BY THE NUMBERS The California wildfires of 2017 were some of the most destructive on record. Crawford was there with its team of experts to help businesses recover from the losses. 1.2M Acres Burned1 36K Homes and Businesses Damaged or Destroyed2 27 Wineries Impacted (1) ca.gov. California Department of Forestry and Fire Protection. (2) Insurance.ca.gov. California Department of Insurance. AR/17B U S I N E S S E S CALIFORNIA IS NO STRANGER TO WILDFIRES, BUT THE FLAMES THAT RAVAGED THE STATE IN 2017 WERE ESPECIALLY DEVASTATING, CAUSING 44 DEATHS AND THE DESTRUCTION OF MORE THAN 36,000 HOMES AND BUSINESSES. The fires wreaked havoc on some of the most expensive acreage in North America: Northern California’s wine country. Crawford brought a sophisticated level of expertise in response to the devastation, helping to restore one large vineyard to health. 5 While a vineyard may appear damaged Crawford’s testers meticulously sampled beyond salvageability, it takes careful nearly 30 percent of the acreage — a research and specialized expertise to total of 34,577 vines. Testing established determine whether grapes can still grow that while 31% percent of the vineyard from scorched vines. Crawford took its classified as a total loss, 69% was expertise to a vineyard to help a carrier salvageable, with normal production and a winegrower quantify the damage and growth expected. Throughout and map the path to recovery. the process, its consultant provided recommendations for restoring, and in some cases, replacing damaged vines so the vineyard might return to its full capacity. To determine the scope of the vineyard’s damage, Crawford called upon one of the experts in its global network, a much sought-after vineyard and soil science consultant in California. The task: determine whether the vineyard’s vines still had “green growth.” $11.8 B California Wildfire Insurance Claims C&CBY THE NUMBERS Fire is by far the most costly peril for commercial property insurers, with over 50% of total claims paid for fire and explosions.1 3X Increase in Fire Claim Costs in 10 Years1 3.3K UK Fire Claims Managed £290M Incurred UK Fire Losses Managed (1) ABI: UK Insurance and Long-Term Savings. The State of the Market. 6 RESTORING AND ENHANCING COMMUNITIES AR/17C O M M U N I T I E S WHEN A HISTORIC CHURCH FROM THE 12TH CENTURY BURNED DOWN, THE COMMUNITY LOST MORE THAN A LANDMARK – THEY LOST A PART OF THEMSELVES. At Crawford, we know that a church is more than just a building: Brick. Stone. Tile. Slate. It’s a spiritual home for a congregation of people, a touchpoint for their faith, their family, their community. Just hours after fire swept through In collaboration with Ecclesiastical a church in rural England, Crawford Insurance, Crawford adjusters also adjusters were on the scene, meeting helped the congregation and its with leaders and worshipers to bring leadership continue services the church the church back to life—to provide for provides beyond worship – provisions for continued worship and early payments the poor and homeless, parents, children for immediate needs, as well as and the vulnerable. identifying requirements such as security, hygiene and making the site safe. The extent of fire damage caused to such an ancient building often appears Close communication and management catastrophic but with hard work and of a complex web of specialist expertise Crawford was able to return conservationists, contractors, architects the church to its grateful community. and surveyors was key to the successful claims process and restoration of the cultural heart of this community. 7 171K Number of fires responded to by England’s Fire and Rescue Services in 2017, a 9% increase year over year1 (1) gov.uk. Fire and rescue incident statistics, year ending September 2017. C&CT O O U R S H A R E H O L D E R S 8 OVER THE PAST COUPLE OF YEARS WE HAVE BEEN REORGANIZING, REFOCUSING AND RE-INVIGORATING CRAWFORD & COMPANY.® WE HAVE SIMPLIFIED OUR ORGANIZATIONAL STRUCTURE AND TAKEN MEANINGFUL STEPS TO ENHANCE THE COMPANY’S CULTURE. WE HAVE ADDED EXPERIENCED LEADERSHIP AND CONTINUED TO REDUCE OUR EXPENSE STRUCTURE WITH THE GOAL OF SUSTAINING OUR FINANCIAL HEALTH. AND WE HAVE REDEDICATED OURSELVES TO OUR CORE VALUES AND MISSION. THIS WILL LEAD US TO SUSTAINABLE REVENUE GROWTH. Harsha V. Agadi President and Chief Executive Officer AR/17Our financial performance in 2017 demonstrates the progress we achieved in streamlining our organization and restoring the profitability of the business as our U.S. Services, International, and Broadspire segments all delivered operating margins in excess of 10% for the full year, which met our medium term goal. In addition, we grew our non-GAAP CRD-B diluted earnings per share at a 39% compounded annual rate over the last two years driven by a focus on expense management. As you can see, we have returned financial stability to Crawford and our goal is to build upon the Company’s strong momentum as we focus on delivering consistent revenue growth, which is our number one priority looking forward. Who We Are and What We Stand For During our transformative process, we have evaluated our business from top to bottom. In 2017, we took the foundational step of reviewing our core values and realigning our organization around a refreshed corporate mission, vision and values system. We fully appreciate the critical role we play at stressful and trying times in peoples’ lives. We recognize that we must not only manage claims with technical proficiency and efficiency, but also with empathy and understanding. This commitment is driving how we go to market, how we serve our clients and who we hire. $1.106B Revenues Before Reimbursements $95.7M Operating Earnings1 8.7% Operating Margin1 22.5 % Non-GAAP EPS Growth for CRD-B1 $131.8M Consolidated Adjusted EBITDA 1 9 (1) Refer to 2017 Financial Highlights for Non-GAAP explanation and reconciliation. C&COur mission: Restoring and enhancing lives, businesses WeGoLook®, and other services ranging from temporary and communities. staffing to full claims outsourcing solutions. Our vision: To be the leading provider and Our Crawford TPA Solutions are provided through most trusted source for expert assistance, serving those our Broadspire brand and include our global third who insure and self-insure the risks of businesses and party administration services for auto, general liability, communities anywhere in the world. product liability, workers compensation, disability and Our values: We embrace the principles of Respect, Empowerment, Sustainability, Training, a One Crawford mindset, Recognition and an Entrepreneurial spirit. leave management, accident and health, employers’ liability, affinity and warranty services and medical management. We see ourselves as an enterprise that’s inclusive and And finally, our Crawford Specialty Solutions includes mission- and customer-focused. our managed repair services delivered by Contractor These core values define Crawford and are clearly evident in our response to the devastating hurricane Connection, legal administrative services delivered by GCG, and a definitive solution for large or complex claims solutions delivered by Crawford Global 10 and weather-related activity that challenged the entire P&C insurance industry this past year. To support our Technical Services®. clients and their insureds in their time of great need, we We believe our move to Global Service Lines allows the mobilized Crawford adjusters from around the globe as company to accelerate product growth in new markets well as hired and trained a new generation of adjusters. and enables our sales professionals to be stronger We view these efforts as a significant investment in our partners to our clients as technology and service business, which demonstrates our strong commitment offerings continue to drive the evermore complex nature to our clients and positions Crawford as a more of our industry. valuable partner in the future. Positive Changes New Products, Innovation to Drive Top-Line Growth Our move to Global Service Lines will also position In 2017, we analyzed our operations to assess how we Crawford to harness the expertise and product depth go to market, and determined that our current business from across the company to solve the challenges of structure could be strengthened — both to deliver the carriers, corporations and intermediaries through the best possible service to our clients and also to better development of innovative solutions. These solutions position the company for growth. As we entered 2018, will accelerate our growth, improve the customer we reorganized Crawford into Global Service Lines. experience and reduce costs for both our clients These operating segments are known as Crawford and Crawford. Claims Solutions, Crawford TPA Solutions and Crawford Specialty Solutions. In addition, Crawford Innovative Ventures, LLC, an entity formed to invest in strategic acquisitions Crawford Claims Solutions includes our traditional field and partnerships, continues to focus on market adjusting services for property, casualty and auto, opportunities. In 2017, CIV made its first investment catastrophe response, crowd-sourced field services with the acquisition of WeGoLook, and we recently for high frequency, low severity claims provided by announced our partnership with the City of Hartford’s AR/17InsurTech Hub. Our pipeline remains robust and CIV are investing in new technology-enabled TPA solutions will continue to assess new opportunities to accelerate that will further enhance our service offerings and drive growth and to invest in innovative companies like value for clients and for Crawford. WeGoLook to keep Crawford at the forefront of the industry. Everything we do is meant to improve the speed of service and accuracy, and, importantly, to improve our The company’s new TruLook™ offering is a good clients’ profitability — and ours. We want to own the example of the innovative solutions we’re bringing to market and represent the complete claims solution our clients. TruLook utilizes WeGoLook to initiate and through one Crawford & Company. simplify the claims process by determining whether a field adjuster is necessary to handle the claim. TruLook Crawford’s Leadership: Deep, Experienced, Driven also ties to Contractor Connection, providing an All we do comes down to people and how we can integrated solution that handles claims from loss to help them. To continue to accomplish that, we have repair and elevates the claims settlement process from strengthened our management team and added new an art to a science. The TruLook solution enhances experienced sales personnel to help grow revenue our ability to reach claimants anytime and anywhere, across our business. In mid-2017, we were pleased to improves customer satisfaction and service, lowers recruit Rohit Verma, an experienced industry leader and costs. This solution is already delivering 20-30 percent former client, as our new global chief operating officer. cost savings versus traditional models and is meeting Rohit adds to an already strong and diverse global client needs for faster and lower cost claims resolution. executive management team. Our recently launched Total Construction Solution is This is an exciting time at Crawford. We are creating focused on the construction industry, the first of many positive and sustainable solutions for our clients. All of verticals to follow. Our Total Construction Solution the steps we have taken have resulted in a stronger represents the most comprehensive offering available company. We will not rest until we achieve our longer to this industry. It is driven by our TPA capabilities in term target of 5 percent annual revenue growth and 15 Broadspire, offering dedicated construction account percent earnings growth. management, builder’s risk, jurisdiction-specific workers compensation, forensic accounting capabilities, contractor emergency services and large loss repair I’d like to thank our shareholders, employees, clients and communities for their continued trust and support. solutions — the full spectrum of construction industry Sincerely, claims. Other new product offerings include our Total Property Solution for property managers and hotels, a cyber incident management solution to address the effects of cyber-related incidents on a company’s finances, operations and technology platforms, and a product recall solution to help companies manage the range of services required to address regulatory requirements associated with product recall incidents. In addition, we Harsha V. Agadi President and Chief Executive Officer 11 C&COUR VALUES OUR COMPANY’S VALUES GUIDE EVERYTHING WE DO. EVERY DAY. THEY INFORM ALL OUR RELATIONSHIPS – WITH OUR CLIENTS, OUR BUSINESS PARTNERS, OUR SHAREHOLDERS AND EACH OTHER. 12 RESPECT TRAINING A culture where we practice integrity and An environment where employees are ethical behavior, embrace each individual’s stimulated, knowledgeable and satisfied. unique talents, honor diverse life and work styles, and promote a spirit of cooperation. EMPOWERMENT An engaged Crawford where employees are emboldened to advance the company mission, take ownership of their career progression, contribute ideas to meet industry challenges and hold themselves and others accountable. ONE CRAWFORD A global mindset that’s inclusive, mission-focused, customer-focused and on the move. RECOGNITION An ecosystem of recognition and reward for our employees’ hard work. SUSTAINABILITY A focus on corporate social responsibility, ENTREPRENEURIAL SPIRIT giving back and being good stewards in A shared passion to succeed, outpace our communities. competitors and innovate. AR/17 GLOBAL EXECUTIVE MANAGEMENT TEAM 1. Harsha V. Agadi President and Chief Executive Officer 2. Joseph O. Blanco General Counsel 3. Kenneth M. Fraser Chief Client Officer 4. Danielle M. Lisenbey Global President, TPA Solutions: Broadspire 5. Kieran Rigby Global President, Crawford Claims Solutions 6. Bonnie C. Sawdey Chief People Officer 7. Hilton Sturisky Chief Information Officer 8. W. Bruce Swain Chief Financial Officer 9. Larry C. Thomas Global President, Crawford Specialty Solutions 10. Greta G. Van Chief Strategy Officer 11. Rohit Verma Global Chief Operating Officer 13 7 2 9 5 3 8 6 1 4 10 11 C&CC R A W F O R D C L A I M S S O L U T I O N S P & C A D J U S T I N G & V O L U M E C L A I M S CRAWFORD’S CLAIMS SPECIALISTS FORM THE FRONT LINE IN PROVIDING OUR COMPREHENSIVE SERVICES. Crawford’s Claims Solutions business stands at the center of our claims management function. In 2017, our team of employees was a mainstay in our response to an unprecedented number of severe weather events as well as to the everyday needs of our clients. Our claims specialists could be found in places such as Sunrise, Florida and Overland Park, Kansas — often far removed from the areas impacted by the chain of hurricanes that ravaged Texas, Florida, Puerto Rico and the U.S. Virgin Islands. Roughly a third of our Crawford Claims Solutions employees 14 were deployed as contracted claims managers in the offices of our carrier clients as part of our staff augmentation program to help process the tens of thousands of claims from those events. Crawford’s performance during this period distinguished our company in an important way: In the aftermath of these events — we’re still hard at work in Puerto Rico — both adjusters and our clients have recognized the extent of our capabilities, and our commitment to the restoration process, prompting a significant increase in our pre-planning process and in the relationships we maintain with our independent adjusters. 1.2 M P&C Claims Managed 70 Countries with Physical Locations 3K+ Claims Adjusters AR/17C R A W F O R D C L A I M S S O L U T I O N S We G o L o o k DISRUPTING THE INDUSTRY WITH SERVICES THAT EXPEDITE CLAIMS IN ALL CORNERS OF THE INSURANCE INDUSTRY. In its first full year of majority ownership in WeGoLook, Crawford experienced an intense level of interest in this service. Our clients recognized that our vast network of 40,000 “Lookers” – able to inspect claims usually within 24 to 48 hours — represents an important service not only to a family or a business beset by a loss but also to the carrier, which is able to deliver fast, cost-efficient claims management. In addition, WeGoLook has a network of more than 2,200 drone operators able to assess situations from the air that may not be accessible on the ground, sending valuable footage back to loss adjusting teams. WeGoLook is part of Crawford’s new TruLook solution, a service that maximizes efficiencies throughout the claims handling process to return accurate, precise information faster and at a lower cost. The TruLook solution has reduced costs by 20 to 30 percent, on average, and has demonstrated its ability to decrease processing time for claims to as little as 3.7 days. We see significant potential for growth in our WeGoLook service, such as risk surveys, brand compliance surveys, supporting underwriting for both insurance carriers and financial institutions, as well as growth opportunities internationally, particularly in the U.K., Canada and Australia. 15 40K Lookers 2.2K Total Available Drones 12 Average Number of Miles that Lookers Travel C&CC R A W F O R D C L A I M S S O L U T I O N S C A T A S T R O P H E R E S P O N S E S E R V I C E S 16 ANSWERING THE CALL: THROUGHOUT AN UNPRECEDENTED YEAR OF MAJOR WEATHER EVENTS, CRAWFORD RISES TO THE CHALLENGE. When catastrophe strikes, we are there — with adjusters, claims processing, and industry leading services and technology such as WeGoLook and TruLook. In 2017, Crawford managed an unprecedented number of severe weather events globally. In the U.S. and Caribbean, Crawford answered the call, with contact centers handling more than 175,000 calls using innovative technology solutions to help ensure real-time claim intake for the thousands of insureds impacted by Hurricanes Harvey, Irma and Maria. In response to these storms, Crawford mobilized adjusters from the U.S., Canada, the United Kingdom and Australia, and drew on the extensive capabilities of WeGoLook and Contractor Connection – demonstrating the power of the company’s global reach. In 2018, Crawford is further investing in its catastrophe response capabilities, enhancing its technology platform for managing adjusters and the preplanning process to support both major weather events and catastrophe ongoing claims of a more routine nature. We are also expanding our branch network and sales force to establish a better presence in local and regional insurance markets. Crawford is poised to grow and continue to improve its catastrophe services capabilities, maintaining its leadership in this important business. 175 K 3 5K 3 00 Claims Calls Handled1 Claims1 Subject Matter Experts1 (1) For Hurricanes Harvey, Irma and Maria. AR/17C R A W F O R D S P E C I A LT Y S O L U T I O N S C O N T R A C T O R C O N N E C T I O N 17 CONSECUTIVE YEARS OF GROWTH. AN EXPANDING INTERNATIONAL PRESENCE. THE INDUSTRY’S LEADING CONTRACTOR QUALITY CONTROL MODEL. Crawford’s Contractor Connection is the insurance industry’s largest and most trusted network of certified professional contractors. Our network allows our insurer clients to deliver industry-leading quality service, with Crawford partnering with six of the top 10 6, 000 Contractors insurance carriers in the J.D. Powers customer satisfaction rankings. Contractor Connection in 2017 itself was recognized for customer satisfaction excellence for the live phone channel under the J.D. Power Certified Contact Center ProgramSM for the second consecutive year. Acquired in 1999 when it was a young, promising business with a roster of 500 general contractors, Crawford has since grown its contractor network to more than 6,000 general and specialty contractors. Geographically we have expanded our operations beyond the U.S., with operations in Canada, the UK, and Australia. This past December we established our presence in Germany, with future plans to accelerate growth while laying the groundwork for further global expansion. We celebrated our 17th year of consecutive growth in 2017, and we’ve only just begun. 17 35 0K $2.5B Claims Handled In 2017 Total Project Costs C&CC R A W F O R D S P E C I A LT Y S O L U T I O N S G L O B A L T E C H N I C A L S E R V I C E S NEW LEADERSHIP, RENEWED GROWTH, MARKET-LEADING SERVICES. One of Crawford’s core competencies is our ability to handle large or complex claims, an area of expertise that resides in our Global Technical Services (GTS) service line. Whether the claim involves a catastrophic weather event, a virulent wildfire or a cyber attack, GTS is equipped to respond quickly and cost-effectively to any such occurrence. In 2017, GTS handled more than 750 major claims from three hurricanes, two major California wildfires and the subsequent mudslides resulting from heavy rains that followed. We also handled major weather-related “freeze” claims in the U.S. Northeast, and a wide variety of claims that didn’t make the headlines. 18 While the United States dominated the statistics in terms of catastrophic events in 2017, Crawford’s Global Technical Services adjusters were involved in a number of other significant events internationally. International events ranged from earthquake losses in Mexico, a cyclone in Australia and a typhoon in Macau and Hong Kong. On each occasion, GTS adjusters were on hand to provide help and support to our clients. GTS in 2017 added new leadership and hired 20 highly skilled adjusters — positioning the unit for the exceptional performance it delivered during the year. In 2018, we are adding additional adjusters, building on our industry expertise and in incident areas that include cyber security, forensic accounting and high-value housing. 460+ Global Technical Adjusters 2,50 0 $5.8B Claims Indemnity Dollars AR/17C R A W F O R D S P E C I A LT Y S O L U T I O N S C Y B E R S E C U R I T Y CRAWFORD’S GLOBAL RESPONSE TO A GLOBAL PROBLEM. Crawford has established the insurance industry’s market-leading cyber security incident response unit, serving small and medium-sized enterprises worldwide. Since its launch in 2015, we have built a robust global network for managing the response to virtually any type of digital attack, data breach or cyber-related incident. We provide claims adjuster services and comprehensive incident management across our global markets, responding to an average of one incident per day while also providing our clients with incident planning and response services. Our cyber response unit brings together the world’s foremost expert firms to address all aspects of a cyber-related incident, including the effects on a company’s finances, operations, technology platforms and public reputation, to name just a few. Because cyber security is a global phenomenon, Crawford maintains a global presence, with offices in North America, United Kingdom, Europe, Australia, Asia, the Middle East and South America. The estimated size of the global cyber security market was $138 billion in 2017, with growth projected to $232 billion by 2022. Crawford offers a compelling, comprehensive solution to a growing worldwide problem. 19 $1 38B $23 2 B 100 2017 Global Market Size1 Projected 2022 Global Market Size2 Cyber Incident Managers (1) Markets and Markets: Cybersecurity Market by Solution, Service, Security Type, Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2022. (2) Source Markets and Markets. C&CC R A W F O R D S P E C I A LT Y S O L U T I O N S G C G FOCUSED ON PROFITABILITY, ADAPTING TO MARKET NEEDS, LEVERAGING OUR SERVICES. GCG – Crawford’s premier provider of class action settlement administration, restructuring and bankruptcy matters, mass tort settlement programs and regulatory settlements in the U.S. and internationally — in 2017 intensified its commitment to respond to client needs related to legal mass claims, winning more new engagements than in years prior, but against a 20 backdrop of fewer large administrations. With the expected conclusion of a large project, GCG has been moving quickly to re-size its business for profitability, rebuild its business development capabilities and adapt its infrastructure to support the needs of other Crawford business units. For instance, GCG has expanded its 300-seat call center in Dublin, Ohio to serve other Crawford business units, to include our cyber security service center and to support first notice of loss claims intake. All the while, GCG has maintained a high level of service and expertise in its core business, as evidenced by two awards in 2017 from The M&A Advisor for its outstanding operational and technological achievements in the $2 billion Chapter 11 restructuring of oil and gas company, Quicksilver Resources. $4B $193.5M 7.6M USD Distributed CAD Settlement Awards Claims Processed AR/17C R A W F O R D T PA S O L U T I O N S B R O A D S P I R E 21 BROADSPIRE CAPITALIZES ON GLOBAL REACH AND LOCALIZED EXCELLENCE TO DELIVER INDUSTRY-LEADING SERVICE. Broadspire, Crawford’s third party administrator, provides corporations, brokers and insurers worldwide with workers compensation, disability absence management, medical management, accident & health and liability services. Broadspire in 2017 managed the claims needs of its clients in 15 countries, harnessing our teams of health and insurance claims professionals, along with our integrated service model, to deliver shorter claim durations, expedited return to work and reduced cost of risk. Our industry-leading medical bill review, pharmacy programs, physician review services and preferred provider networks translate to further savings. We operate from facilities around the globe, providing third party administration services in 15 countries in 2017. Whether it’s an auto liability investigator in the UK or ambulatory transportation from Melbourne to Minneapolis, Broadspire offers a global reach coupled with a local knowledge of an area’s culture, laws, currency and language. In 2017 Broadspire continued to enhance its technology and claims platform to build on our seamless claims management capabilities, our individualized client approach and consistent execution across the globe. 15 $2. 9B 4 25 K Countries Served in 2017 Claims Paid Claims Managed C&C22 C O R P O R A T E S O C I A L R E S P O N S I B I L I T Y DOING THE RIGHT THING Crawford believes that as a global company we have a duty to give back to the communities that we serve and be responsible stewards of our resources. Our commitment to our clients and our communities is best demonstrated through our actions. AR/17BY THE NUMBERS 50 Global Day of Service Projects 1,000 Cooking Cans Provided 100 Grants to Employees Affected by Hurricanes Crawford’s Global Day of Service A worldwide effort to restore and enhance lives, businesses and communities Puerto Rico When many others have gone home, Crawford Cares Helping our own during the toughest we’re still there to help of times In the fall of 2017, Hurricane Irma, and Crawford’s mission to restore and then Hurricane Maria ravaged Puerto enhance lives includes those within Crawford serves clients in more Rico, leaving most of the island’s its own employee family. Through than 70 countries, and with that population without electric power. its Crawford Cares foundation, the worldwide footprint comes a sense of responsibility to all our communities. Our Global Day of Service reflects our commitment to doing the right thing – always – through an array of community outreach and service programs. Across the world, Crawford employees and their families come together on one day in October to support charities and outreach efforts in their own region. In 2017, Crawford sponsored its ninth annual Global Day of Service, working on more than 50 service projects, ranging from home restoration projects to spending time with the elderly to packing supply kits to helping children and their families during hospital stays. In past years, Crawford employees have planted trees in downtown Atlanta, sponsored food drives, and worked with the disabled. And our employees have participated in places ranging from New Delhi, India, the Netherlands, Selangor, Malaysia to Warsaw, Poland. While the focus is on giving back to the community, the projects are equally impactful for our employees, who enjoy the camaraderie and opportunity to work together to make a difference. In 2018, Crawford still has more than 100 professionals working at an induction center the company established there in October 2017 to company has provided support to employees affected by catastrophe or in need of financial support after an unexpected event or loss. 23 assess and process claims quickly, After discovering that one of its and deploy Crawford Contractor employees – a casualty adjuster in Connection contractors to help in the Puerto Rico providing support to other rebuilding effort. families – had been without electricity In addition to its direct involvement in the island’s reconstruction, Crawford in late 2017 teamed up with Safe America Foundation to provide funds for more than 60 days, Crawford found a way to ship a generator to the island despite the logistical challenges. to secure and distribute Cooking “I am very thankful and proud to Cans, portable, non-electronic be part of Crawford’s family,” the devices to help Puerto Rican families employee wrote to the company. return to normal cooking habits as “The generator is going to help me a they wait for utilities to be restored on lot at home so I can finally buy food the island. at the super store and cook at home. There are no words for how thankful Thanks to this partnership, Safe America was able to rush the I am.” shipment of devices to the American Crawford has provided financial Red Cross for distribution — along assistance to more than 100 with enough fuel to cook for 30 days. employees affected by the hurricanes Families across Puerto Rico were that ravaged the U.S., its territories given the Cooking Cans so they could and neighboring Caribbean islands return, in a small way, to their normal this year. Employees have been able routine of eating a warm meal with to offset temporary housing costs, loved ones. repair damaged homes and replace food spoiled by loss of electricity. C&C2 0 1 7 F I N A N C I A L H I G H L I G H T S REVENUES BEFORE (1) REIMBURSEMENTS ($ in millions) CONSOLIDATED OPERATING EARNINGS (1) ($ in millions) CONSOLIDATED ADJUSTED EBITDA(1) ($ in millions) . 4 3 6 1 1 $ , . 9 2 4 1 1 $ , . 4 0 7 1 1 $ , . 3 9 0 1 1 $ , . 8 5 0 1 1 $ , . 9 4 9 $ . 1 3 7 $ . 4 0 7 $ . 1 2 9 $ . 7 5 9 $ . 9 4 2 1 $ . 3 4 0 1 $ . 2 7 0 1 $ . 2 6 2 1 $ . 8 1 3 1 $ 24 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 CASES RECEIVED (in thousands) TOTAL CASH DIVIDENDS PAID ($ in millions) NET DEBT (1) ($ in millions) . 8 9 2 4 1 , . 9 4 5 5 1 , . 6 0 0 6 1 , . 8 4 0 5 1 , . 9 0 7 6 1 , . 8 8 $ . 7 1 1 $ . 5 3 1 $ . 6 3 1 $ . 7 3 1 $ . 7 1 6 $ . 4 4 0 1 $ . 2 1 7 1 $ . 4 6 0 1 $ . 7 1 7 1 $ 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 AR/17(1) Measurements of financial performance not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comparable to other similarly-titled measurements employed by other companies. For additional information about the non-GAAP financial information presented herein, see the Appendix shown on our website at crawfordandcompany.com/media/2393255/summaryannualreportappendix_2017.pdf.FOR THE YEARS ENDED DECEMBER 31, (dollars in millions, except per share amounts) (unaudited) 2017 2016 Revenues Before Reimbursements(1) Net Income Attributable to Shareholders of Crawford & Company Consolidated Operating Earnings(1) Consolidated Adjusted EBITDA(1) Diluted Earnings per Share – CRD-A Diluted Earnings per Share – CRD-B Return on Average Shareholders’ Investment $ $ $ $ $ $ 1,105.8 27.7 95.7 131.8 0.52 0.45 16.5% $ $ $ $ $ $ 1,109.3 36.0 92.1 126.2 0.67 0.60 26.9% 25 Percentage of Total Company Revenues Before Reimbursement by Business Segment 40.7% INTERNATIONAL 2 4. 4% U.S. SERVICES 28 .0% BROADSPIRE 6 .9% GCG C&C C O N D E N S E D C O N S O L I D A T E D S T A T E M E N T S O F O P E R A T I O N S ( U N A U D I T E D ) (In thousands, except per share amounts) FOR THE YEARS ENDED DECEMBER 31, 2017 2016 2015 Revenues from Services: Revenues before reimbursements Reimbursements Total Revenues Costs and Expenses: Costs of services provided, before reimbursements Reimbursements Total costs of services Selling, general, and administrative expenses Corporate interest expense, net of interest income of $847, $749, and $600, respectively 26 Goodwill impairment charges Restructuring and special charges Total Costs and Expenses Other Income Income (Loss) Before Income Taxes Provision for Income Taxes Net Income (Loss) Net Loss (Income) Attributable to Noncontrolling Interests and Redeemable Noncontrolling Interests $ 1,105,832 $ 1,109,286 $ 1,170,385 57,877 68,302 71,135 1,163,709 1,177,588 1,241,520 784,111 57,877 841,988 239,840 9,062 19,598 12,084 788,373 68,302 856,675 239,852 9,185 — 9,490 869,217 71,135 940,352 241,602 8,383 49,314 34,395 1,122,572 1,115,202 1,274,046 1,125 42,262 15,039 27,223 855 63,241 25,565 37,676 753 (31,773) 13,832 (45,605) 442 (1,710) 117 Net Income (Loss) Attributable to Shareholders of Crawford & Company $ 27,665 $ 35,966 $ (45,488) Earnings (Loss) Per Share - Basic: Class A Common Stock Class B Common Stock Earnings (Loss) Per Share - Diluted: Class A Common Stock Class B Common Stock Weighted-Average Shares Used to Compute Basic Earnings (Loss) Per Share: Class A Common Stock Class B Common Stock Weighted-Average Shares Used to Compute Diluted Earnings (Loss) Per Share: Class A Common Stock Class B Common Stock Cash Dividends Per Share: Class A Common Stock Class B Common Stock $ $ $ $ 0.53 0.45 0.52 0.45 31,322 24,606 32,158 24,606 $ $ $ $ 0.68 0.60 0.67 0.60 $ $ $ $ 30,793 24,690 31,530 24,690 (0.79) (0.87) (0.79) (0.87) 30,596 24,690 30,596 24,690 $ $ 0.28 0.20 $ $ 0.28 0.20 $ $ 0.28 0.20 This financial information should be read with the Company’s audited consolidated financial statements and notes thereto, and related risks included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission. AR/17 C O N D E N S E D C O N S O L I D A T E D S T A T E M E N T S O F C O M P R E H E N S I V E I N C O M E ( L O S S ) ( U N A U D I T E D ) (In thousands) FOR THE YEARS ENDED DECEMBER 31, Net Income (Loss) Other Comprehensive Income (Loss): 2017 2016 2015 $ 27,223 $ 37,676 $ (45,605) Net foreign currency translation (loss), net of tax benefit of $0, $0, and $0, respectively 6,323 (10,620) (20,426) Amounts reclassified into net income for defined benefit pension plans, net of tax provision of $3,432, $4,563 and $3,265, respectively 7,501 8,623 10,806 Net unrealized gain on defined benefit plans arising during the year, net of tax benefit (provision) of $236, $(5,175), and $(2,349), respectively Other Comprehensive Income (Loss) Comprehensive Income (Loss) Comprehensive loss (income) attributable to noncontrolling interests and redeemable noncontrolling interests Comprehensive Income (Loss) Attributable to Shareholders of Crawford & Company 666 14,490 41,713 11,337 9,340 47,016 8,209 (1,411) (47,016) 1,248 (192) 855 $ 42,961 $ 46,824 $ (46,161) This financial information should be read with the Company’s audited consolidated financial statements and notes thereto, and related risks included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission. 27 C&C C O N D E N S E D C O N S O L I D A T E D S T A T E M E N T S O F C A S H F L O W S ( U N A U D I T E D ) (In thousands) FOR THE YEARS ENDED DECEMBER 31, Cash Flows from Operating Activities: Net income (loss) Reconciliation of net income (loss) to net cash provided by operating activities: Depreciation and amortization Impairment of goodwill Deferred income taxes Stock-based compensation costs Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: Accounts receivable, net Unbilled revenues, net Accrued or prepaid income taxes Accounts payable and accrued liabilities 28 Deferred revenues Accrued retirement costs Prepaid expenses and other operating activities Net cash provided by operating activities Cash Flows from Investing Activities: Acquisitions of property and equipment Capitalization of computer software costs Payments for business acquisitions, net of cash acquired Other investing activities Net cash used in investing activities Cash Flows from Financing Activities: Cash dividends paid Payments related to shares received for withholding taxes under stock-based compensation plans Proceeds from shares purchased under employee stock-based compensation plans Decrease in note payable for share repurchase Repurchases of common stock Increases in short-term and revolving credit facility borrowings Payments on short-term and revolving credit facility borrowings Payments on capital lease obligations Capitalized loan costs Dividends paid to noncontrolling interests Net cash provided by (used in) financing activities Effects of exchange rate changes on cash and cash equivalents (Decrease) Increase in Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Year Cash and Cash Equivalents at End of Year $ 2017 2016 2015 $ 27,223 $ 37,676 $ (45,605) 41,658 19,598 (2,358) 6,661 (14,844) (2,644) (508) (14,678) (3,482) (15,364) (505) 40,757 (19,044) (25,867) (36,029) (926) (81,866) 40,743 — 10,531 5,252 2,781 (7,782) 1,755 17,120 (8,846) (9,046) 8,680 98,864 (10,354) (18,845) (3,672) (95) (32,966) 43,498 49,314 4,120 3,229 26,526 3,053 5,948 (21,151) 363 (16,402) 8,762 61,655 (12,144) (20,775) (68,259) — (101,178) (13,700) (13,565) (13,511) (1,933) (1,342) (479) 1,154 — (7,422) 94,407 (58,490) (1,233) (1,926) (514) 10,343 3,208 (27,558) 81,569 54,011 1,743 (2,206) — 80,164 (118,044) (1,508) (12) (381) (55,151) (5,244) 5,503 76,066 81,569 $ 1,320 — (1,240) 147,509 (62,017) (1,993) (1,299) (401) 67,889 (4,756) 23,610 52,456 76,066 $ This financial information should be read with the Company’s audited consolidated financial statements and notes thereto, and related risks included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission. AR/17 C O N D E N S E D C O N S O L I D A T E D B A L A N C E S H E E T S ( U N A U D I T E D ) (In thousands, except par value amounts) AT DECEMBER 31, 2017 2016 ASSETS Current Assets: Cash and cash equivalents Accounts receivable, less allowance for doubtful accounts of $12,588 and $14,499, respectively Unbilled revenues, at estimated billable amounts Income taxes receivable Prepaid expenses and other current assets Total Current Assets Net Property and Equipment Other Assets: Goodwill Intangible assets arising from business acquisitions, net Capitalized software costs, net Deferred income tax assets Other noncurrent assets Total Other Assets TOTAL ASSETS LIABILITIES AND SHAREHOLDERS’ INVESTMENT Current Liabilities: Short-term borrowings Accounts payable Accrued compensation and related costs Self-insured risks Income taxes payable Deferred rent Other accrued liabilities Deferred revenues Current installments of capital leases Total Current Liabilities Noncurrent Liabilities: Long-term debt and capital leases, less current installments Deferred revenues Accrued pension liabilities Other noncurrent liabilities Total Noncurrent Liabilities Redeemable Noncontrolling Interests Shareholders’ Investment: Class A common stock, $1.00 par value, 50,000 shares authorized; 31,439 and 31,296 shares issued and outstanding, respectively Class B common stock, $1.00 par value, 50,000 shares authorized; 24,502 and 24,690 shares issued and outstanding, respectively Additional paid-in capital Retained earnings Accumulated other comprehensive loss Shareholders’ Investment Attributable to Shareholders of Crawford & Company Noncontrolling interests Total Shareholders’ Investment $ 54,011 $ 81,569 174,172 153,566 108,745 7,987 25,452 370,367 41,664 96,916 97,147 89,824 24,359 67,659 101,809 3,781 24,006 364,731 29,605 91,750 86,931 80,960 30,379 51,503 375,905 341,523 $ 787,936 $ 735,859 $ $ 24,641 49,303 75,892 13,407 2,703 15,717 36,563 37,794 571 30 51,991 74,466 14,771 3,527 12,142 34,922 37,456 982 256,591 230,287 200,460 22,515 87,035 27,596 337,606 6,775 187,002 25,884 105,175 28,247 346,308 — 31,439 31,296 24,502 53,170 269,686 (196,477) 182,320 4,644 186,964 24,690 48,108 261,562 (211,773) 153,883 5,381 159,264 TOTAL LIABILITIES AND SHAREHOLDERS’ INVESTMENT $ 787,936 $ 735,859 This financial information should be read with the Company’s audited consolidated financial statements and notes thereto, and related risks included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission. 29 C&C C O N D E N S E D C O N S O L I D A T E D S T A T E M E N T S O F S H A R E H O L D E R S ’ I N V E S T M E N T ( U N A U D I T E D ) (In thousands) Common Stock Class A Non-Voting Class B Voting Additional Paid-In Capital Retained Earnings Accumu- lated Accumulated Other Other Comprehen- Comprehensive sive (Loss) Income (Loss) Income Sharehold- ers’ Shareholders’ Investment Investment Attributable Attributable to to Share- Shareholders holders of of Crawford & Crawford & Company Company Noncon- Noncontrolling trolling Interests Interests Total Total Sharehold- Shareholders’ ers’ Investment Investment Balance at December 31, 2014 $ 30,497 $ 24,690 $ 38,617 $ 301,091 $ (221,958) $ 172,937 $ 6,416 $ 179,353 (45,488) — (45,488) — (673) — — — — — — — — — — — — — — — (517) 557 — — 30,537 — — — — 759 — — 31,296 — — — — 30 Net (loss) Other comprehensive loss Cash dividends paid Stock-based compensation Repurchases of common stock Shares issued in connection with stock-based compensation plans, net Increase in value of noncontrolling interest due to acquisition of controlling interest Dividends paid to noncontrolling interests Balance at December 31, 2015 Net income Other comprehensive income (loss) Cash dividends paid Stock-based compensation Shares issued in connection with stock-based compensation plans, net Decrease in value of noncontrolling interest due to sale of controlling interest Dividends paid to noncontrolling interests Balance at December 31, 2016 Net income (loss) (1) Other comprehensive income (loss) Cash dividends paid Stock-based compensation Repurchases of common stock Shares issued in connection with stock-based compensation plans, net Increase in value of noncontrolling interest due to acquisition of controlling interest Dividends paid to noncontrolling interests Balance at December 31, 2017 — — — 3,198 (13,511) — — (2,931) 121 — — — — 5,498 5,498 (673) (13,511) 3,198 (3,448) 678 10,858 (13,565) 5,252 391 27,665 15,296 (13,700) 6,661 (7,422) (87) (117) (738) — — — — (45,605) (1,411) (13,511) 3,198 (3,448) 678 (401) 10,658 1,710 (401) 124,351 37,676 (1,518) — — — 9,340 (13,565) 5,252 391 (381) 5,381 526 (806) (381) 159,264 28,191 14,490 — — — — (13,700) 6,661 (7,422) (87) 1,288 (5,088) (3,800) — — — — — — — — — — — 24,690 — 41,936 — 239,161 — (222,631) — 113,693 35,966 — 35,966 — — — — — — — — — 5,252 (368) 1,288 — (13,565) 10,858 — — — — — — — — 24,690 — 48,108 — 261,562 — (211,773) — 153,883 27,665 — — 15,296 — — — 6,661 – (13,700) — (6,533) (701) (188) 844 — — — (1,623) 692 24 — — $ 31,439 — $ 24,502 — $ 53,170 — $ 269,686 — $ (196,477) — $ 182,320 (514) 4,644 (514) $ 186,964 $ 24 57 81 This financial information should be read with the Company’s audited consolidated financial statements and notes thereto, and related risks included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission. (1) The total net income presented in the consolidated statement of shareholders’ investment for the year ended December 31, 2017 excludes $968 in net loss attributable to the redeemable noncontrolling interests. AR/17 C O N D E N S E D S E L E C T E D F I N A N C I A L D A T A ( U N A U D I T E D ) The following selected financial data should be read in conjunction with Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the audited consolidated financial statements and notes thereto contained in Item 8, “Financial Statements and Supplementary Data” of this Annual Report on Form 10-K. (In thousands, except per share amounts and percentages) 2017 FOR THE YEARS ENDED DECEMBER 31, 2016 2015 2014 2013 Revenues before Reimbursements $ 1,105,832 $ 1,109,286 $ 1,170,385 $ 1,142,851 $ 1,163,445 Reimbursements Total Revenues Total Costs of Services U.S. Services Operating Earnings (1) International Operating Earnings (1) Broadspire Operating Earnings (1) Garden City Group Operating (Loss) Earnings (1) Unallocated Corporate and Shared Costs and Credits, Net Net Corporate Interest Expense Stock Option Expense Amortization of Customer-Relationship Intangible Assets Goodwill Impairment Charges Restructuring and Special Charges Income Taxes Net Loss (Income) Attributable to Noncontrolling Interests and Redeemable Noncontrolling Interests Net Income (Loss) Attributable to Shareholders of Crawford & Company Earnings (Loss) Per Share - Basic (2): CRD-A CRD-B Earnings (Loss) Per share - Diluted (2): CRD-A CRD-B Current Assets Total Assets Current Liabilities Long-Term Debt and Captial Leases, Less Current Installments Total Debt Shareholders’ Investment Attributable to Shareholders of Crawford & Company Total Capital Current Ratio Total Debt to Total Capital Ratio Return on Average Shareholders’ Investment Cash Provided by Operating Activities Cash Used in Investing Activities Cash Provided By (Used in) Financing Activities Shareholders’ Investment Attributable to Shareholders of Crawford & Company Per Diluted Share Cash Dividends Per Share: CRD-A CRD-B Weighted-Average Shares and Share-Equivalents: Basic Diluted 57,877 1,163,709 841,988 35,673 47,236 32,729 (4,373) (15,559) (9,062) (1,718) (10,982) (19,598) (12,084) (15,039) 68,302 1,177,588 856,675 35,624 43,248 30,003 7,225 (23,971) (9,185) (621) (9,592) — (9,490) (25,565) 71,135 1,241,520 940,352 74,112 1,216,963 914,814 89,985 1,253,430 936,427 32,622 18,087 24,017 12,299 (16,605) (8,383) (433) (9,668) (49,314) (34,395) (13,832) 18,039 25,344 15,469 22,849 (8,582) (6,031) (859) 11,895 38,795 8,245 46,752 (10,829) (6,423) (948) (6,341) (6,385) — — — — (28,780) (29,766) 442 (1,710) 117 (484) (358) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 27,665 0.53 0.45 0.52 0.45 370,367 787,936 256,591 200,460 225,672 182,320 407,992 1.4:1 $ $ $ $ $ $ $ $ $ $ $ $ 35,966 0.68 0.60 0.67 0.60 364,731 735,859 230,287 187,002 188,014 153,883 341,897 1.6:1 $ $ $ $ $ $ $ $ $ $ $ $ (45,488) (0.79) (0.87) (0.79) (0.87) 370,177 783,406 258,348 225,365 247,282 113,693 360,975 1.4:1 $ $ $ $ $ $ $ $ $ $ $ $ 30,624 0.59 0.52 0.57 0.52 367,583 789,319 259,559 154,046 156,811 172,937 329,748 1.4:1 $ $ $ $ $ $ $ $ $ $ $ $ 55.3% 16.5% 55.0% 26.9% 68.5% (31.7)% 47.6% 16.4% 40,757 (81,866) 10,343 3.21 0.28 0.20 $ $ $ $ $ $ 98,864 (32,966) (55,151) 2.74 0.28 0.20 $ $ $ $ $ $ 61,655 (101,178) 67,889 2.06 0.28 0.20 $ $ $ $ $ $ 6,606 (31,767) 4,532 3.11 0.24 0.18 $ $ $ $ $ $ 50,978 0.95 0.91 0.93 0.90 369,681 790,058 317,393 101,779 137,645 199,805 337,450 1.2:1 40.8% 30.3% 77,844 (33,528) (39,132) 3.60 0.18 0.14 55,928 56,764 55,483 56,220 55,286 55,286 54,927 55,673 54,543 55,545 (1) This is a segment financial measure calculated in accordance with ASC Topic 280, “Segment Reporting,” and representing segment earnings before certain unallocated corporate and shared costs and credits, net corporate interest expense, stock option expense, amortization of customer-relationship intangi- ble assets, goodwill impairment charges, restructuring and special charges and credits, income taxes, and net loss or income attributable to noncontrolling interests and redeemable noncontrolling interests. (2) The Company computes earnings (loss) per share of CRD-A and CRD-B using the two-class method, which allocates the undistributed earnings (loss) for each period to each class on a proportionate basis. The Company’s Board of Directors has the right, but not the obligation, to declare higher dividends on CRD-A than on CRD-B, subject to certain limitations. In periods when the dividend is the same for CRD-A and CRD-B or when no dividends are declared or paid to either class, the two-class method generally will yield the same earnings (loss) per share for CRD-A and CRD-B. 31 C&C B O A R D O F D I R E C T O R S 1. Harsha V. Agadi President and Chief Executive Officer, Crawford & Company 2. P. George Benson Professor of Decision Sciences and former President of the College of Charleston 3. Jesse C. Crawford Chief Executive Officer, Crawford Media Services, Inc. 4. Jesse C. Crawford, Jr Independent Investor 5. Roger A.S. Day Retired Executive, ACE American Insurance Company 6. James D. Edwards Retired Partner, Arthur Andersen, LLP 7. Joia M. Johnson Executive Vice President, General Counsel and Corporate Secretary, Hanesbrands, Inc. 8. Charles H. Ogburn Non-Executive Chairman of the Board, Crawford & Company 9. Rahul Patel Partner King & Spalding, LLP 10. D. Richard Williams Non-Executive Chairman of the Board, Primerica, Inc AR/17 32 10 5 4 1 9 2 6 3 8 7 C O R P O R A T E I N F O R M A T I O N Corporate Headquarters 5335 Triangle Parkway, NW Peachtree Corners, GA 30092 404.300.1000 Inquiries Individuals seeking financial data should contact: W. Bruce Swain Investor Relations Chief Financial Officer 404.300.1051 Form 10-K A copy of the Company’s annual report on Form 10-K as filed with the Securities and Exchange Commission is available without charge upon request to: Joseph O. Blanco General Counsel Crawford & Company 5335 Triangle Parkway, NW Peachtree Corners, GA 30092 404.300.1021 Our Form 10-K is also available online at either www.sec.gov or in the Investor Relations section at www.crawfordandcompany.com Annual Meeting The Annual Meeting of shareholders will be held at 2 p.m. on May 9, 2018, at the corporate headquarters of: Crawford & Company 5335 Triangle Parkway, NW Peachtree Corners, GA 30092 404.300.1000 Company Stock Shares of the Company’s two classes of common stock are traded on the NYSE under the symbols CRD-A and CRD-B, respectively. The Company's two classes of stock are substantially identical, except with respect to voting rights and the Company’s ability to pay greater cash dividends on the non-voting Class A Common Stock than on the voting Class B Common Stock, subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of Class A Common Stock must receive the same type and amount of consideration as holders of Class B Common Stock, unless different consideration is approved by the holders of 75 percent of the Class A Common Stock, voting as a class. Transfer Agent EQ Shareowner Services P.O. Box 64854 St. Paul, MN 55164-0854 1.800.468.9716 shareowneronline.com Internet Address www.crawfordandcompany.com Certifications In 2017, Crawford & Company’s chief executive officer (CEO) provided to the New York Stock Exchange the annual CEO certification regarding Crawford’s compliance with the New York Stock Exchange’s corporate governance listing standards. In addition, Crawford’s CEO and chief financial officer filed with the U.S. Securities and Exchange Commission all required certifications regarding the quality of Crawford’s public disclosures in its fiscal 2017 reports. Financial Information The financial information contained herein should not be considered a substitute for the Company's audited financial statements, inclusive of footnotes and Management’s Discussion and Analysis of Financial Condition and Results of Operations, included in the Company's annual report on Form 10-K, as filed with the Securities and Exchange Commission. The Form 10-K also contains detailed discussions of certain major uncertainties, contingencies, risks, and other issues the Company faces. A copy of the Form 10-K including the full financial statements, can be obtained by calling 404.300.1021 or accessing it online at either www.sec.gov or in the Investor Relations section at www.crawfordandcompany.com. Forward-Looking Statements This report contains forward-looking statements, including statements about the future financial condition, results of operations and earnings outlook of Crawford & Company. Statements, both qualitative and quantitative, that are not statements of historical fact may be “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 and other securities laws. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from historical experience or Crawford & Company's present expectations. Accordingly, no one should place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Crawford & Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise or not arise after the date the forward-looking statements are made. For further information regarding Crawford & Company, and the risks and uncertainties involved in forward-looking statements, please read Crawford & Company's reports filed with the SEC and available at www.sec.gov or in the Investor Relations section of Crawford & Company’s website at www.crawfordandcompany.com. Crawford & Company 5335 Triangle Parkway, NW Peachtree Corners, GA 30092 An equal opportunity employer 

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