Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 216

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 216
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    (9.3)%

    Decrease due to foreign currency exchange rates
     
    (2.6)%

    Australia 2022 catastrophe cases
     
    3.2%

    High-frequency, low-severity cases received in Europe in 2022 with minimal 2022 revenues
     
    5.6%

    U.K. change in operating model
     
    2.3%

    Change in product mix and rates
     
    7.4%

    Impact of acquisition revenues
     
    0.4%

    Increase in Revenues before Reimbursements
     
    7.0%

Reimbursed Expenses Included in Total Revenues

Reimbursements for out-of-pocket expenses incurred in our International Operations segment which are included in total Company revenue increased to $33.8 million in 2023 from $29.0 million in 2022. The increase in reimbursed expenses was primarily due to the increase in revenues in the current year.

Case Volume Analysis

International Operations unit volumes, as measured by cases received, by region for 2023 and 2022 were as follows:

    Year Ended December 31,
     
    2023

    2022

    Variance

    U.K.

    159,384

    155,994

    2.2
    %

    Europe

    177,315

    212,083

    (16.4
    )%

    Australia

    35,362

    67,494

    (47.6
    )%

    Asia

    25,973

    20,622

    25.9
    %

    Latin America

    88,203

    79,913

    10.4
    %

    Total International Operations Cases Received

    486,237

    536,106

    (9.3
    )%

Overall, there was a decrease in cases received of (9.3)% for 2023, compared with the 2022 period. There was an increase in cases in the U.K., due to new business from both new and existing clients, partially offset by a reduction in high-frequency, low-severity third party administration cases. Cases declined in Europe due to a change in the mix of services provided between periods, including a reduction of 30,000 high-frequency, low-severity cases in Scandinavia