Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 214

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 214
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    6.7%

Revenues before Reimbursements

International Operations segment revenues are primarily derived from the global property and casualty insurance company markets in the U.K, Europe, Australia, Asia and Latin America. Revenues before reimbursements by major region, based on actual exchange rates and using a constant exchange rate were as follows:

    In thousands (except percentages)

    Based on actual exchange rates

    Based on exchange ratesfor December 31, 2022

    Year Ended December 31,
     
    2023

    2022

    Variance

    2023

    Variance

    U.K.
     
    $
    143,353

    $
    121,814

    17.7
    %
     
    $
    145,852

    19.7
    %

    Europe

    92,130

    89,777

    2.6
    %

    93,685

    4.4
    %

    Australia

    89,479

    94,692

    (5.5
    )%

    94,408

    (0.3
    )%

    Asia

    23,289

    21,652

    7.6
    %

    23,733

    9.6
    %

    Latin America

    34,142

    29,517

    15.7
    %

    33,967

    15.1
    %

    Total International Operations Revenues before Reimbursements
     
    $
    382,393

    $
    357,452

    7.0
    %
     
    $
    391,645

    9.6
    %

Revenues before reimbursements from our International Operations segment totaled $382.4 million in 2023, compared with $357.5 million in 2022. This increase was primarily due to increases in the U.K., Europe, Asia, and Latin America, partially offset by a reduction in weather-related activity in Australia. The change in exchange rates decreased our International Operations segment revenues by approximately (2.6)%, or $(9.2) million, for 2023 as compared with 2022. Absent foreign exchange rate fluctuations, International Operations segment revenues would have been $391.6 million for 2023.