ASX-listed Stream sells NZ insurance claims unit Symetri for up to $25M

Fri, 27 Jan 2017

By Sophie Boot Jan. 27 (BusinessDesk) - Australian insurance claims management company Stream Group has sold its New Zealand subsidiary Symetri to multinational claims manager Gallagher Bassett for up to $25 million. Gallagher Bassett will pay $7 million upfront for Symetri's operating business and most of its assets, with earn-outs capped at $18 million based on profit through to December 2018. Insurance services firm Stream will keep its subsidiary Symetri Technology and through that, the intellectual property used in the Symetri claims...

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