CED continues expansion in Spain with Tebex takeover

Loss adjusting and claims management firm CED has reinforced its position in Spain with the takeover of Tebex Daño Corporal.

Tebex is a bodily injury expert. The takeover contract was signed in Madrid in the middle of March 2012.

Since the takeover of the international network Interiura in March 2010, CED has been active in Spain, while in 2011 it took over GTP and CSP, two experts in automotive and property and liability claims.

"With the takeover of Tebex Daño Corporal, CED has considerably increased its market share in the Spanish market," said Stef Witteveen, chairman of CED-holding.

"With the earlier takeovers of CSP and GTP in 2011, and after the takeover of Tebex Daño Corporal, CED has now become market leader in the field of bodily injury too.

"Over the past two years, CED has seen its turnover in Spain grow from €2.5m to €17m. International growth, besides innovation and professionalisation, is one of CED's strategic spearheads.

"With the takeover of Tebex Daño Corporal, the realisation of our ambition to be, in five years from now, a leading European claim expert is getting closer and closer."

Tebex Daño Corporal was established in 1985, and is a large player in Spain in the field of bodily injury reporting. The firm handles over 30 000 medical files a year with a national network of 150 freelance doctors and 25 full-time colleagues.

José Cobos, who remains responsible for Tebex Daño Corporal, will join the CED management team in Spain and report to Rafael Orfila, director CED Spain.

"Tebex Daño Corporal has become part of a very ambitious and international organisation," said Cobos.

"The clear strategic course of CED offers many opportunities in Spain for further increase and development of the EMA business line, within the scope of which falls bodily injury reporting."

Rafael Orfila, managing director of CED Spain, added: "The positive experiences gained through the earlier takeovers have ensured that the takeover with José Cobos' team has also been very pleasant and efficient.

"By adding bodily injury reporting to our services, we are the only claim expert in Spain who can offer clients such a broad service package."