January 8, 2003 — (WEB HOST INDUSTRY REVIEW) — Independent information technology services firm CGI (CGI.com) announced on Wednesday that it is closing the acquisition of the Underwriters Adjustment Bureau Ltd. (UAB) with an annualized revenue run rate of approximately $100 million Canadian.
The acquisition, says CGI, substantially expands the capabilities of the company’s insurance and business process services units, adding 1,300 employees to the organization. The acquisition was originally announced on November 12, 2002.
UAB, says CGI, provides claims management, underwriting and actuarial services for the property and casualty insurance industry in Canada, as well as attending physician statements, investigation and surveillance services, real estate management services and pre-employment services to life and health insurers.
