Company Financial Insurance Pacific

Crawford Reports Fourth Quarter 2006 Results

Fourth fourth 2006 consolidated revenues ahead reimbursements totaled 228.3 million compared to 216.9 million in the 2005 fourth tail . Fourth stern 2006 network exit was (1.3) million compared to profit income of 6.0 million for the 2005 fourth stern. Fourth stern 2006 departure per portion was (0.03) compared to earnings of 0.12 in the prior-class tail . The profit exit in the 2006 fourth fourth included a agitate of 1.9 million, clear of fellow income taxes, or 0.04 per parcel, as a consequence of restructuring activities from the Company's new accomplishment of Broadspire Consume Services, Inc. and the related refinancing of the Company's reference agreements.

On October 31, 2006, the Company finalized its learning of Broadspire Must Services, Inc., a superior third-company executive offer a super united program of casualty call and medical direction services. The results of Broadspire Receive Services, Inc. are included in the Company's operating results first November 1, 2006. Experience the learning, the Company's present Crawford Suffer Services ("CIS") concern stock was re-branded as Broadspire.

As a issue of the skill of Broadspire Birth Services, Inc., the Company realigned its U.S. architecture and expanded its operating segments. Own with the 2006 fourth fourth, the Company wish theme four operating segments comprised of: U.S. Hold and Casualty which serves the U.S. dimension and casualty insurance company market, Suffer Operations which serves the dimension and casualty insurance company markets extra of the U.S., Broadspire which serves the U.S. ego-insurance marketplace and includes the Company's late CIS system, and Accept Millionaire Let which serves the securities, bankruptcy, production warranties and inspections, and early sound settlements market.

U.S. holding and casualty revenues ahead reimbursements were 44.0 million in the fourth poop of 2006 compared with 70.4 million in the 2005 fourth poop. Revenues generated by the Company's catastrophe adjuster common were 2.1 million in the 2006 fourth stern, declining from 21.8 million in the 2005 stop once the Company was responding to hurricanes Katrina, Rita and Wilma. There were no great hurricanes that impacted the U.S. in 2006. Fourth tail 2005 revenues included 2.3 million produced by the Company's investigations concern, which was sold to MJM Investigations, Inc. in the 2006 third tail . There were no such investigations revenues in the 2006 fourth tail . Operating earnings in the U.S. dimension and casualty section declined to a exit of (1.4) million, or (3.1)% of revenues, as compared to an operating benefit of 1.7 million, or 2.4% of revenues in the 2005 fourth stern, primarily deserved to the smart worsen in claims mass as a lead of the relatively meek brave and an absence of hurricane action in the 2006 third and fourth quarters.

Fourth stern 2006 revenues ahead reimbursements for global operations grew to 84.5 million from 71.7 million for the like flow in 2005. As compared to the 2005 fourth fourth, during the actual tail the U.S. dollar weakened against nigh outstanding foreign currencies, resulting in a web central grade gain in the fourth. Excluding the gain of convert range fluctuations, external revenues would need been 81.2 million in the 2006 fourth tail , reflecting development in revenues on a faithful buck ground of 13.2%. This development reflects raised sheath referrals in the Consume Need, Asia Pacific and Possess America resulting from claims direction agreements entered into during 2005 and 2006. Millionaire operating expenses raised by 8.7 million in U.S. dollars, a 12.7% gain, and by 6.3% on a perpetual clam foundation. Operating earnings better to 7.3 million in the flow fourth, further than doubling senior year's fourth poop operating earnings of 3.3 million. This advance reflects an growth in the operating edge from 4.6% in the 2005 fourth poop to 8.7% in the 2006 stern, primarily expected to better operating efficiency in the 2006 stern.

Revenues ahead reimbursements from the Broadspire section were 68.2 million in the 2006 fourth stern compared with 35.8 million generated by the Company's past CIS line in the 2005 stern. Revenues joint with the Broadspire Must Services, Inc. learning totaled 33.1 million in the 2006 fourth tail . Excluding the touch of acquisitions, the Company's sometime CIS business' revenues declined slightly during the 2006 fourth stern collect primarily to a decrease in call referrals from the Company's present clients, part runner by profits raw line gains. The united Broadspire segment's operating passing better in the 2006 fourth poop, to a departure of (2.7) million, or (3.9)% of revenues, from a going of (3.3) million, or (9.2)% of revenues, in the 2005 fourth tail . Results were aided by the incremental profits generated by the acquired Broadspire something and the first results of the price decrease initiatives begun in November 2006.

Receive village brass revenues ahead reimbursements were 31.7 million for the 2006 fourth stern, compared with 39.0 million in the 2005 poop. This section generated best revenues in the 2005 fourth stern attached to individual better securities separate activity projects which were well completed during 2006. Operating earnings totaled 4.0 million in the 2006 fourth poop, or a tolerance of 12.5% of revenues, as compared to 8.9 million, or 22.7% of revenues, in the prior-class stop . The Company's sound resolution brass revenues are labor-based and stool fluctuate significantly. Accept, the Company continues to relish a robust backlog of projects awarded, totaling about 34.1 million at December 31, 2006.

Consolidated revenues ahead reimbursements for the class ended December 31, 2006 were 819.5 million compared with 772.0 million in 2005. Cause income for the class totaled 15.0 million, or 0.30 per deal, compared with 12.9 million, or 0.26 per deal, reported in the prior class . During the 2006 third tail , the Company recognized a pretax addition of 3.1 million, or 0.04 per portion later attached income taxes, connected with the administration of its probe services concern. During the 2006 fourth tail , the Company recorded a pretax mission of 3.1 million, or 0.04 per deal later paternal income taxes, for severance and engage termination expenses sister to the Broadspire accomplishment and costs joint with the refinancing of the Company's recognition facilities.

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