ATLANTA—Crawford & Co. has agreed to pay $150 million to acquire third-party casualty and medical claims administrator Broadspire Services Inc., Crawford announced late Monday.

Under the terms of the deal, Broadspire–a portfolio company of Beverly Hills, Calif.-based Platinum Equity that was formerly the claims services unit of Kemper Insurance Cos.–will be bought by Crawford but will retain the Broadspire name.

Atlanta-based Crawford is the 10th largest claims administrator for self-insured clients, based on 2004 revenues from such clients of $89.1 million, according to Business Insurance‘s ranking (BI, March 20, 2006).

According to a Crawford statement, the deal is expected to “more than double Crawford’s revenue from self-insured clients.”

Crawford earlier this month completed the buyout of Specialty Liability Services, a U.K.-based adjusting and claims-handling firm.

In February, Hartford, Conn.-based Aetna Inc. agreed to pay $160 million to purchase Broadspire’s disability portfolio.

Pending regulatory approval, the Broadspire transaction is expected to close in the fourth quarter of 2006.