8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 7, 2016

CRAWFORD & COMPANY

(Exact Name of Registrant as Specified in Its Charter)

Georgia

(State or Other Jurisdiction of Incorporation)

1-10356	58-0506554
(Commission File Number)	(IRS Employer Identification No.)
1001 Summit Blvd., Atlanta, Georgia	30319
(Address of Principal Executive Offices)	(Zip Code)

(404) 300-1000

(Registrant's Telephone Number, Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

ITEM 2.02. Results of Operations and Financial Condition

ITEM 7.01. Regulation FD Disclosure

ITEM 9.01. Financial Statements and Exhibits

SIGNATURES

EXHIBIT INDEX

EX-99.1

EX-99.2

2

ITEM 2.02. Results of Operations and Financial Condition

On November 7, 2016, Crawford & Company (the "Company") issued a press release containing information about the Company's financial results for the third quarter 2016. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by this reference.

ITEM 7.01. Regulation FD Disclosure

The Company has made available on the Company's website at www.crawfordandcompany.com a presentation designed to enhance the information presented at its quarterly earnings conference call on Monday, November 7, 2016 at 3:00 p.m. Eastern Time. A copy of the presentation is attached hereto as Exhibit 99.2 and is incorporated herein by this reference.

ITEM 9.01. Financial Statements and Exhibits

(c)	Exhibits
Exhibit No.		Description
99.1		Press Release dated November 7, 2016
99.2		Slide Presentation

The information contained in this current report on Form 8-K and in the accompanying exhibits shall not be incorporated by reference into any filing of the Company with the SEC, whether made before or after the date hereof, regardless of any general incorporation by reference language in such filing, unless expressly incorporated by specific reference to such filing. The information, including the exhibits hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

3

SIGNATURE

     Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CRAWFORD & COMPANY               (Registrant)
By:	/s/ W. BRUCE SWAIN
	W. Bruce Swain
	Executive Vice President - Chief Financial Officer

Dated: November 7, 2016

4

EXHIBIT INDEX

Number	Descriptions
99.1	Press Release dated November 7, 2016
99.2	Slide Presentation

5

EX-99.1

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD ATLANTA, GEORGIA 30319 (404) 300-1000

FOR IMMEDIATE RELEASE

Crawford & Company Reports 2016Third Quarter Results

Increases and Updates 2016 Guidance

ATLANTA, GA. (November 7, 2016) -- Crawford & Company (www.crawfordandcompany.com) (NYSE: CRD-A and CRD-B), one of the world's largest independent providers of claims management solutions to insurance companies and self-insured entities, today announced its financial results for the third quarter ended September 30, 2016, and increased and updated its full year 2016 guidance.

The Company's two classes of stock are substantially identical, except with respect to voting rights and the Company's ability to pay greater cash dividends on the non-voting Class A Common Stock (CRD-A) than on the voting Class B Common Stock (CRD-B), subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of CRD-A must receive the same type and amount of consideration as holders of CRD-B, unless different consideration is approved by the holders of 75% of CRD-A, voting as a class.

Third Quarter 2016 Summary

• Revenues before reimbursements of $277.3 million, compared with $293.3 million for the third quarter of 2015

• Net income attributable to shareholders of $10.9 million compared to a net loss of $(0.9) million in the same period last year

• Diluted earnings per share of $0.20 for CRD-A and $0.18 for CRD-B, compared with $(0.01) for CRD-A and $(0.03) for CRD-B in the prior year quarter

• Diluted earnings per share of $0.22 for CRD-A and $0.20 for CRD-B on a non-GAAP basis in the 2016 quarter, before restructuring and special charges, compared to $0.14 for CRD-A and $0.12 for CRD-B in the prior year quarter

• All four business segments achieved double digit operating margins this quarter

• Consolidated operating earnings, a non-GAAP financial measure, were $26.3 million in the 2016third quarter, compared with $23.1 million in the 2015 period

• Consolidated adjusted EBITDA, a non-GAAP financial measure, was $34.7 million in the 2016 third quarter, compared with $32.8 million in the 2015 period.

Mr. Harsha V. Agadi, chief executive officer of Crawford & Company, stated, "Our third quarter results are a clear indication that the strategic initiatives implemented beginning over a year ago are unlocking the potential that exists at Crawford as we strive to deliver more predictable financial results regardless of the market backdrop. While the environment remained challenging once again this quarter, we achieved our best performance of the year as operating earnings grew 14%, year over year, driven by 160 basis points of margin expansion. Importantly, all four of our business segments generated double digit operating margins this quarter.

Page 1 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD ATLANTA, GEORGIA 30319 (404) 300-1000

"Looking at our 2016 third quarter results in more detail, our International segment showed significant improvement, as operating earnings in all of our major operating regions were up over the prior year. Broadspire delivered another strong quarter with growing operating margins and steady, consistent operating performance. The U.S. Services segment saw revenue declines related to a large outsourced services project that is transitioning down this year, partially offset by continued growth in our Contractor Connection service line. Lastly, the new GCG leadership team is delivering strong results as operating earnings doubled year over year, and new business win rates remained robust."

Mr. Agadi concluded, "While our operating earnings have expanded by 40% year to date, we believe significant untapped potential remains across our global operations. We will continue to evaluate our business segments as we strive to deliver revenue growth and further operational improvements in order to remain competitive and relevant in this ever changing world. To that end, it is critical that we continue to transform our business as we must move faster than our competitors, new market entrants and clients to ensure that we deliver results for all of our stakeholders not only today but also in the future."

Segment Results for the Third Quarter

U.S. Services

U.S. Services revenues before reimbursements were $56.5 million in the third quarter of 2016, decreasing 9% from $62.1 million in the third quarter of 2015. The revenue decrease was primarily due to a reduction in U.S. Catastrophe Services, partially offset by an increase in U.S. Contractor Connection revenues. Operating earnings were $9.4 million in the 2016third quarter, compared with $10.8 million in the third quarter of 2015, representing operating margins of 17% in both the 2016 and 2015 periods.

International

Third quarter 2016 revenues before reimbursements for the International segment totaled $121.6 million, compared with $128.2 million in the 2015third quarter. This decrease was primarily due to changes in foreign exchange rates which negatively impacted revenues by approximately 5%, or $6.1 million, in the third quarter compared with the prior year period. International segment operating earnings were $13.2 million in the 2016 third quarter, compared with $8.0 million in the 2015 third quarter. The segment's operating margin was 11% in the 2016 period as compared to 6% in the 2015 period. The increase in operating margin for the 2016 quarter was a result of improvements in all of our major operating regions and the benefits of cost reduction initiatives implemented in 2015.

Page 2 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD ATLANTA, GEORGIA 30319 (404) 300-1000

Broadspire

Broadspire segment revenues before reimbursements were $76.7 million in the 2016third quarter, up from $74.2 million in the 2015third quarter. The revenue increase was due to increased claims and medical management revenues and higher average case values when compared with the 2015 period. Broadspire recorded operating earnings of $8.3 million in the third quarter of 2016, representing an operating margin of 11%, compared with $7.4 million, or 10% of revenues, in the 2015third quarter.

Garden City Group

Garden City Group revenues before reimbursements were $22.5 million in the third quarter of 2016, compared with $28.8 million in the same period of 2015. The expected decrease in revenues was primarily due to declines in volumes associated with certain large cases which are transitioning to conclusion. Operating earnings were $2.4 million in the 2016third quarter as compared to $1.1 million in the 2015 period. The segment's operating margin for the 2016 quarter was 10% as compared to 4% for the 2015 period as a result of the impact of cost reduction initiatives implemented earlier in 2016. At September 30, 2016 there was a backlog of projects awarded totaling approximately $94.0 million as compared to $76.0 million at September 30, 2015.

Unallocated Corporate and Shared Costs, Net

Unallocated corporate costs were $6.9 million in the third quarter of 2016, compared with $4.3 million in the same period of 2015. The increased costs for the three months of 2016 were due to an increase in professional fees and defined benefit pension expense, partially offset by a decrease in self-insured expenses.

Restructuring and Special Charges

The Company recorded restructuring and special charges of $1.5 million and $11.1 million in the 2016 and 2015 third quarters, respectively. Restructuring costs of $1.4 million in the 2016 quarter were comprised of costs associated with the ongoing implementation of the Global Business Services Center and the Global Technology Services Center (the "Centers"), integration costs related to the GAB Robins acquisition, and other restructuring costs in our operating segments and administrative areas. Special charges of $0.1 million in 2016 were for certain legal and professional fees. Restructuring costs of $6.1 million in the third quarter of 2015 were for similar matters as in the 2016 period. Special charges of $5.0 million in 2015 were recorded for certain legal and professional fees and employee separation costs.

Balance Sheet and Cash Flow

Crawford & Company's consolidated cash and cash equivalents position as of September 30, 2016 totaled $71.7 million compared with $76.1 million at December 31, 2015.

The Company's operations provided $50.1 million of cash during the first nine months of 2016, compared with $21.1 million in the 2015 period. The improvement in cash provided by operating activities in the first nine months of 2016 compared with the 2015 period was primarily due to increased net income and a decrease in working capital requirements.

Page 3 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD ATLANTA, GEORGIA 30319 (404) 300-1000

2016 Guidance

Crawford & Company is increasing and updating its guidance for 2016 as follows:

• Consolidated revenues before reimbursements between $1.08 and $1.10 billion;

• After expected restructuring and special charges, net income attributable to shareholders of Crawford & Company between $31.0 and $34.0 million, or $0.58 to $0.63 diluted earnings per CRD-A share, and $0.50 to $0.55 diluted earnings per CRD-B share;

• Consolidated operating earnings between $85.0 and $90.0 million;

• Consolidated adjusted EBITDA between $125.0 and $130.0 million;

• Before expected restructuring and special charges, net income attributable to shareholders of Crawford & Company on a non-GAAP basis between $39.0 and $42.0 million, or $0.73 to $0.78 diluted earnings per CRD-A share, and $0.65 to $0.70 diluted earnings per CRD-B share.

The Company expects to incur restructuring and special charges in 2016 totaling $11.0 million pretax. This is expected to be comprised of $4.4 million related to the Centers and $6.6 million related to previously announced restructuring plans and other special charges. As a result of restructuring charges incurred related to the Centers in 2015 and 2016, the Company expects to achieve $10.3 million in savings in 2016.

To a significant extent, Crawford's business depends on case volumes. The Company cannot predict the future trend of case volumes for a number of reasons, including the fact that the frequency and severity of weather-related claims and the occurrence of natural and man-made disasters, which are a significant source of claims and revenue for the Company, are generally not subject to accurate forecasting.

Conference Call

As previously announced, Crawford & Company will host a conference call today, November 7, 2016 at 3:00 p.m. Eastern Time to discuss its third quarter 2016 results. The conference call can be accessed live by dialing 1-800-374-2518 using passcode 90684611. A presentation for today’s call can also be found on the investor relations portion of the Company’s website, http://www.crawfordandcompany.com. The call will be recorded and available for replay through December 7, 2016. You may dial 1-855-859-2056 to listen to the replay. The access code is 90684611.

Non-GAAP Presentation

In the normal course of business, our operating segments incur certain out-of-pocket expenses that are thereafter reimbursed by our clients. Under GAAP, these out-of-pocket expenses and associated reimbursements are required to be included when reporting expenses and revenues, respectively, in our consolidated results of operations. In the foregoing discussion and analysis of segment results of operations, we do not include a gross up of segment expenses and revenues for these pass-through reimbursed expenses. The amounts of reimbursed expenses and related revenues offset each other in our results of operations with no impact to our net income or operating earnings. A reconciliation of revenues before reimbursements to consolidated revenues determined in accordance with GAAP is self-evident from the face of the accompanying unaudited condensed consolidated statements of operations.

Page 4 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD ATLANTA, GEORGIA 30319 (404) 300-1000

Operating earnings is the primary financial performance measure used by our senior management and chief operating decision maker ("CODM") to evaluate the financial performance of our Company and operating segments, and make resource allocation and certain compensation decisions. Unlike net income, segment operating earnings is not a standard performance measure found in GAAP. We believe this measure is useful to others in that it allows them to evaluate segment and consolidated operating performance using the same criteria used by our senior management and CODM. Consolidated operating earnings represent segment earnings including certain unallocated corporate and shared costs, but before net corporate interest expense, stock option expense, amortization of customer-relationship intangible assets, restructuring and special charges, income taxes, and net income or loss attributable to noncontrolling interests. The reconciliation of operating earnings to net income attributable to shareholders of Crawford & Company on a GAAP basis is presented below.

Adjusted EBITDA is not a term defined by GAAP and as a result our measure of adjusted EBITDA might not be comparable to similarly titled measures used by other companies. However, adjusted EBITDA is used by management to evaluate, assess and benchmark our operational results and the Company believes that adjusted EBITDA is relevant and useful information widely used by analysts, investors and other interested parties. Adjusted EBITDA is defined as net income attributable to shareholders of Crawford & Company with adjustments for depreciation and amortization, net corporate interest expense, income taxes, restructuring and special charges, and stock-based compensation expense.

Unallocated corporate and shared costs represent expenses related to our chief executive officer and Board of Directors, certain provisions for bad debt allowances or subsequent recoveries such as those related to bankrupt clients, defined benefit pension costs or credits for our frozen U.S. pension plan, certain self-insurance costs and recoveries, and professional fees for corporate level projects that are not allocated to our individual operating segments but are included in our financial performance measure of consolidated operating earnings. Restructuring and special charges are non-core items not directly related to our normal business or operations, or our future performance.

Income taxes, net corporate interest expense, stock option expense, and amortization of customer-relationship intangible assets are recurring components of our net income, but they are not considered part of our consolidated or segment operating earnings because they are managed on a corporate-wide basis. Income taxes are calculated for the Company on a consolidated basis based on statutory rates in effect in the various jurisdictions in which we provide services, and varies significantly by jurisdiction. Net corporate interest expense results from capital structure decisions made by senior management and the Board of Directors and affecting the Company as a whole. Stock option expense represents the non-cash costs generally related to stock options and employee stock purchase plan expenses which are not allocated to our operating segments. Amortization expense is a non-cash expense for finite-lived customer-relationship and trade name intangible assets acquired in business combinations. None of these costs relate directly to the performance of our services or operating activities and, therefore, are excluded from segment operating earnings in order to better assess the results of each segment's operating activities on a consistent basis.

Income taxes are calculated for the non-GAAP presentation of net income before restructuring and special charges based on statutory rates in effect in the various jurisdictions in which charges exist, and vary by jurisdiction.

Page 5 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD ATLANTA, GEORGIA 30319 (404) 300-1000

Following is a reconciliation of segment and consolidated operating earnings to net income attributable to shareholders of Crawford & Company on a GAAP basis. The reconciliation of 2016 guidance is to the midpoint of the guidance range.

	Three months ended						Nine months ended						Full Year
(in thousands)	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015			Guidance 2016
Operating earnings:
U.S. Services	$	9,379		$	10,841		$	28,012		$	24,837
International	13,236			7,974			31,243			11,484
Broadspire	8,263			7,435			23,497			16,981
Garden City Group	2,351			1,141			6,537			9,813
Unallocated corporate and shared costs, net	(6,947		)	(4,303		)	(17,454		)	(11,648		)
Consolidated operating earnings	26,282			23,088			71,835			51,467			$	87,500
(Deduct) add:
Net corporate interest expense	(2,262		)	(2,332		)	(7,553		)	(6,238		)	(10,700		)
Stock option expense	(176		)	(30		)	(403		)	(357		)	(500		)
Amortization expense	(2,401		)	(2,350		)	(7,280		)	(6,782		)	(9,200		)
Restructuring and special charges	(1,488		)	(11,078		)	(7,431		)	(16,383		)	(11,000		)
Income taxes	(8,606		)	(8,385		)	(20,029		)	(15,335		)	(24,500		)
Net (income) loss attributable to non-controlling interests	(404		)	230			(937		)	(189		)	700
Net income (loss) attributable to shareholders of Crawford & Company	$	10,945		$	(857	)	$	28,202		$	6,183		$	32,300

Following is a reconciliation of net income attributable to shareholders of Crawford & Company on a GAAP basis to adjusted EBITDA. The reconciliation of 2016 guidance is to the midpoint of the guidance range.

	Three months ended					Nine months ended				Full Year
(in thousands)	September 30, 2016		September 30, 2015			September 30, 2016		September 30, 2015		Guidance 2016
Net income (loss) attributable to shareholders of Crawford & Company	$	10,945	$	(857	)	$	28,202	$	6,183	$	32,300
Add:
Depreciation and amortization	10,085		10,812			30,643		32,219		45,000
Stock-based compensation	1,289		1,089			3,246		2,369		4,000
Net corporate interest expense	2,262		2,332			7,553		6,238		10,700
Restructuring and special charges	1,488		11,078			7,431		16,383		11,000
Income taxes	8,606		8,385			20,029		15,335		24,500
Adjusted EBITDA	$	34,675	$	32,839		$	97,104	$	78,727	$	127,500

Page 6 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD ATLANTA, GEORGIA 30319 (404) 300-1000

Further information regarding the Company's operating results for the three months and nine months ended September 30, 2016, financial position as of September 30, 2016, and cash flows for the nine months ended September 30, 2016 is shown on the attached unaudited condensed consolidated financial statements.

About Crawford & Company

Based in Atlanta, Georgia, Crawford & Company (www.crawfordandcompany.com) is one of the world's largest independent providers of claims management solutions to the risk management and insurance industry, as well as to self-insured entities, with an expansive global network serving clients in more than 70 countries. The Crawford Solution^® offers comprehensive, integrated claims services, business process outsourcing and consulting services for major product lines including property and casualty claims management, workers' compensation claims and medical management, and legal settlement administration.

The Company's shares are traded on the NYSE under the symbols CRD-A and CRD-B. The Company's two classes of stock are substantially identical, except with respect to voting rights and the Company's ability to pay greater cash dividends on the non-voting Class A Common Stock than on the voting Class B Common Stock, subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of Class A Common Stock must receive the same type and amount of consideration as holders of Class B Common Stock, unless different consideration is approved by the holders of 75% of the Class A Common Stock, voting as a class.

Earnings per share may be different between CRD-A and CRD-B due to the payment of a higher per share dividend on CRD-A than CRD-B, and the impact that has on the earnings per share calculation according to generally accepted accounting principles.

FOR FURTHER INFORMATION REGARDING THIS PRESS RELEASE, PLEASE CALL BRUCE SWAIN AT (404) 300-1051.

This press release contains forward-looking statements, including statements about the expected future financial condition, results of operations and earnings outlook of Crawford & Company. Statements, both qualitative and quantitative, that are not historical facts may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from historical experience or Crawford & Company's present expectations. Accordingly, no one should place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Crawford & Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise or not arise after the date the forward-looking statements are made. For further information regarding Crawford & Company, including factors that could cause our actual financial condition, results or earnings to differ from those described in any forward-looking statements, please read Crawford & Company's reports filed with the SEC and available at www.sec.gov or in the Investor Relations section of Crawford & Company's website at www.crawfordandcompany.com.

Page 7 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD, ATLANTA, GEORGIA 30319 (404) 300-1000

CRAWFORD & COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Unaudited

(In Thousands, Except Per Share Amounts and Percentages)

Three Months Ended September 30,	2016			2015			% Change
Revenues:
Revenues Before Reimbursements	$	277,286		$	293,335		(5	)%
Reimbursements	18,101			16,649			9	%
Total Revenues	295,387			309,984			(5	)%
Costs and Expenses:
Costs of Services Provided, Before Reimbursements	193,453			211,106			(8	)%
Reimbursements	18,101			16,649			9	%
Total Costs of Services	211,554			227,755			(7	)%
Selling, General, and Administrative Expenses	60,325			61,738			(2	)%
Corporate Interest Expense, Net	2,262			2,332			(3	)%
Restructuring and Special Charges	1,488			11,078			(87	)%
Total Costs and Expenses	275,629			302,903			(9	)%
Other Income	197			217			(9	)%
Income Before Income Taxes	19,955			7,298			173	%
Provision for Income Taxes	8,606			8,385			3	%
Net Income (Loss)	11,349			(1,087		)	(1,144	)%
Net (Income) Loss Attributable to Noncontrolling Interests	(404		)	230			(276	)%
Net Income (Loss) Attributable to Shareholders of Crawford & Company	$	10,945		$	(857	)	(1,377	)%
Earnings (Loss) Per Share - Basic:
Class A Common Stock	$	0.21		$	(0.01	)	2,200	%
Class B Common Stock	$	0.19		$	(0.03	)	733	%
Earnings (Loss) Per Share - Diluted:
Class A Common Stock	$	0.20		$	(0.01	)	2,100	%
Class B Common Stock	$	0.18		$	(0.03	)	700	%
Cash Dividends Per Share:
Class A Common Stock	$	0.07		$	0.07		—	%
Class B Common Stock	$	0.05		$	0.05		—	%

Page 8 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD, ATLANTA, GEORGIA 30319 (404) 300-1000

CRAWFORD & COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Unaudited

(In Thousands, Except Per Share Amounts and Percentages)

Nine Months Ended September 30,	2016			2015			% Change
Revenues:
Revenues Before Reimbursements	$	836,863		$	885,510		(5	)%
Reimbursements	47,101			55,506			(15	)%
Total Revenues	883,964			941,016			(6	)%
Costs and Expenses:
Costs of Services Provided, Before Reimbursements	595,248			662,537			(10	)%
Reimbursements	47,101			55,506			(15	)%
Total Costs of Services	642,349			718,043			(11	)%
Selling, General, and Administrative Expenses	178,182			179,346			(1	)%
Corporate Interest Expense, Net	7,553			6,238			21	%
Restructuring and Special Charges	7,431			16,383			(55	)%
Total Costs and Expenses	835,515			920,010			(9	)%
Other Income	719			701			3	%
Income Before Income Taxes	49,168			21,707			127	%
Provision for Income Taxes	20,029			15,335			31	%
Net Income	29,139			6,372			357	%
Net Income Attributable to Noncontrolling Interests	(937		)	(189		)	396	%
Net Income Attributable to Shareholders of Crawford & Company	$	28,202		$	6,183		356	%
Earnings Per Share - Basic:
Class A Common Stock	$	0.54		$	0.14		286	%
Class B Common Stock	$	0.48		$	0.08		500	%
Earnings Per Share - Diluted:
Class A Common Stock	$	0.53		$	0.14		279	%
Class B Common Stock	$	0.47		$	0.08		488	%
Cash Dividends Per Share:
Class A Common Stock	$	0.21		$	0.21		—	%
Class B Common Stock	$	0.15		$	0.15		—	%

Page 9 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD, ATLANTA, GEORGIA 30319 (404) 300-1000

CRAWFORD & COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

As of September 30, 2016 and December 31, 2015

Unaudited

(In Thousands, Except Par Values)

	September 30,			December 31,
	2016			2015
ASSETS
Current Assets:
Cash and Cash Equivalents	$	71,663		$	76,066
Accounts Receivable, Net	166,993			164,596
Unbilled Revenues, at Estimated Billable Amounts	112,775			98,659
Income Taxes Receivable	4,255			4,255
Prepaid Expenses and Other Current Assets	25,319			26,601
Total Current Assets	381,005			370,177
Property and Equipment	131,939			140,383
Less Accumulated Depreciation	(102,649		)	(102,331		)
Net Property and Equipment	29,290			38,052
Other Assets:
Goodwill	92,895			95,616
Intangible Assets Arising from Business Acquisitions, Net	91,812			104,861
Capitalized Software Costs, Net	80,990			79,996
Deferred Income Tax Assets	43,995			47,371
Other Noncurrent Assets	45,844			47,333
Total Other Assets	355,536			375,177
Total Assets	$	765,831		$	783,406
LIABILITIES AND SHAREHOLDERS' INVESTMENT
Current Liabilities:
Short-Term Borrowings	$	8,007		$	19,958
Accounts Payable	47,634			44,615
Accrued Compensation and Related Costs	71,180			68,843
Self-Insured Risks	14,020			14,122
Income Taxes Payable	12,170			4,419
Deferred Rent	12,408			13,303
Other Accrued Liabilities	39,806			44,577
Deferred Revenues	42,180			46,552
Current Installments of Capital Leases	1,327			1,959
Total Current Liabilities	248,732			258,348
Noncurrent Liabilities:
Long-Term Debt and Capital Leases, Less Current Installments	205,248			225,365
Deferred Revenues	26,231			26,592
Self-Insured Risks	8,844			9,354
Accrued Pension Liabilities	110,722			121,732
Other Noncurrent Liabilities	16,663			17,664
Total Noncurrent Liabilities	367,708			400,707
Shareholders' Investment:
Class A Common Stock, $1.00 Par Value	30,952			30,537
Class B Common Stock, $1.00 Par Value	24,690			24,690
Additional Paid-in Capital	47,248			41,936
Retained Earnings	257,201			239,161
Accumulated Other Comprehensive Loss	(215,842		)	(222,631		)
Shareholders' Investment Attributable to Shareholders of Crawford & Company	144,249			113,693
Noncontrolling Interests	5,142			10,658
Total Shareholders' Investment	149,391			124,351
Total Liabilities and Shareholders' Investment	$	765,831		$	783,406

Page 10 of 12

Press Release

`CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD, ATLANTA, GEORGIA 30319 (404) 300-1000

CRAWFORD & COMPANY

SUMMARY RESULTS BY OPERATING SEGMENT

Unaudited

(In Thousands, Except Percentages)

Three Months Ended September 30,

	U.S. Services						%		International						%		Broadspire						%		Garden City Group						%
	2016			2015			Change		2016			2015			Change		2016			2015			Change		2016			2015			Change
Revenues Before Reimbursements	$	56,470		$	62,080		(9	)%	$	121,644		$	128,198		(5	)%	$	76,676		$	74,225		3	%	$	22,496		$	28,832		(22	)%
Direct Compensation, Fringe Benefits & Non-Employee Labor	32,574			36,746			(11	)%	76,126			82,836			(8	)%	41,891			39,144			7	%	14,712			21,448			(31	)%
% of Revenues Before Reimbursements	58		%	59		%			63		%	65		%			55		%	53		%			65		%	74		%
Expenses Other than Reimbursements, Direct Compensation, Fringe Benefits & Non-Employee Labor	14,517			14,493			—	%	32,282			37,388			(14	)%	26,522			27,646			(4	)%	5,433			6,243			(13	)%
% of Revenues Before Reimbursements	26		%	23		%			27		%	29		%			35		%	37		%			24		%	22		%
Total Operating Expenses	47,091			51,239			(8	)%	108,408			120,224			(10	)%	68,413			66,790			2	%	20,145			27,691			(27	)%
Operating Earnings (1)	$	9,379		$	10,841		(13	)%	$	13,236		$	7,974		66	%	$	8,263		$	7,435		11	%	$	2,351		$	1,141		106	%
% of Revenues Before Reimbursements	17		%	17		%			11		%	6		%			11		%	10		%			10		%	4		%

Nine Months Ended September 30,

	U.S. Services						%		International						%		Broadspire						%		Garden City Group						%
	2016			2015			Change		2016			2015			Change		2016			2015			Change		2016			2015			Change
Revenues Before Reimbursements	$	173,813		$	185,683		(6	)%	$	362,401		$	381,706		(5	)%	$	227,975		$	217,590		5	%	$	72,674		$	100,531		(28	)%
Direct Compensation, Fringe Benefits & Non-Employee Labor	100,518			114,747			(12	)%	230,363			256,846			(10	)%	125,753			118,263			6	%	47,923			70,773			(32	)%
% of Revenues Before Reimbursements	58		%	62		%			64		%	67		%			55		%	54		%			66		%	70		%
Expenses Other than Reimbursements, Direct Compensation, Fringe Benefits & Non-Employee Labor	45,283			46,099			(2	)%	100,795			113,376			(11	)%	78,725			82,346			(4	)%	18,214			19,945			(9	)%
% of Revenues Before Reimbursements	26		%	25		%			28		%	30		%			35		%	38		%			25		%	20		%
Total Operating Expenses	145,801			160,846			(9	)%	331,158			370,222			(11	)%	204,478			200,609			2	%	66,137			90,718			(27	)%
Operating Earnings (1)	$	28,012		$	24,837		13	%	$	31,243		$	11,484		172	%	$	23,497		$	16,981		38	%	$	6,537		$	9,813		(33	)%
% of Revenues Before Reimbursements	16		%	13		%			9		%	3		%			10		%	8		%			9		%	10		%

NOTE: "Direct Compensation, Fringe Benefits & Non-Employee Labor" and "Expenses Other Than Direct Compensation, Fringe Benefits & Non-Employee Labor" components are not comparable across

segments, but are comparable within each segment across periods.

(1) A non-GAAP financial measurement which represents net income attributable to the applicable reporting segment excluding income taxes, net corporate interest expense, stock option expense, amortization

of customer-relationship intangible assets, restructuring and special charges, and certain unallocated corporate and shared costs. See pages 5-6 for additional information about segment operating earnings.

Page 11 of 12

Press Release

CRAWFORD & COMPANY 1001 SUMMIT BOULEVARD, ATLANTA, GEORGIA 30319 (404) 300-1000

CRAWFORD & COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine Months Ended September 30, 2016 and September 30, 2015

Unaudited

(In Thousands)

	2016			2015
Cash Flows From Operating Activities:
Net Income	$	29,139		$	6,372
Reconciliation of Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization	30,643			32,219
Stock-Based Compensation	3,246			2,369
Changes in Operating Assets and Liabilities, Net of Effects of Acquisitions and Dispositions:
Accounts Receivable, Net	(7,628		)	14,190
Unbilled Revenues, Net	(16,118		)	(8,604		)
Accrued or Prepaid Income Taxes	9,067			9,838
Accounts Payable and Accrued Liabilities	5,410			(31,247		)
Deferred Revenues	(4,153		)	1,064
Accrued Retirement Costs	(7,128		)	(14,952		)
Prepaid Expenses and Other Operating Activities	7,605			9,890
Net Cash Provided by Operating Activities	50,083			21,139
Cash Flows From Investing Activities:
Acquisitions of Property and Equipment	(5,782		)	(10,296		)
Capitalization of Computer Software Costs	(13,653		)	(16,182		)
Payments for Acquisitions, Net of Cash Acquired	(3,672		)	(68,259		)
Other Investing Activities	(95		)	—
Net Cash Used In Investing Activities	(23,202		)	(94,737		)
Cash Flows From Financing Activities:
Cash Dividends Paid	(10,162		)	(10,151		)
Payments Related to Shares Received for Withholding Taxes Under Stock-Based Compensation Plans	(15		)	(2		)
Proceeds from Shares Purchased Under Employee Stock-Based Compensation Plans	1,208			1,196
Repurchases of Common Stock	—			(137		)
Increases in Short-Term and Revolving Credit Facility Borrowings	79,664			126,032
Payments on Short-Term and Revolving Credit Facility Borrowings	(95,855		)	(31,645		)
Decrease in Note Payable for Stock Repurchase	(2,206		)	—
Payments on Capital Lease Obligations	(1,119		)	(1,586		)
Dividends Paid to Noncontrolling Interests	(381		)	(186		)
Other Financing Activities	(12		)	(4		)
Net Cash (Used In) Provided By Financing Activities	(28,878		)	83,517
Effects of Exchange Rate Changes on Cash and Cash Equivalents	(2,406		)	(4,046		)
(Decrease) Increase in Cash and Cash Equivalents	(4,403		)	5,873
Cash and Cash Equivalents at Beginning of Year	76,066			52,456
Cash and Cash Equivalents at End of Period	$	71,663		$	58,329

Page 12 of 12

EX-99.2

November 7, 2016 Third Quarter 2016 Earnings Conference Call

2 • Forward-Looking Statements —This presentation contains forward-looking statements, including statements about the expected future financial condition, results of operations and earnings outlook of Crawford & Company. Statements, both qualitative and quantitative, that are not statements of historical fact may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 and other securities laws. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from historical experience or Crawford & Company's present expectations. Accordingly, no one should place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Crawford & Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise or not arise after the date the forward-looking statements are made. Results for any interim period presented herein are not necessarily indicative of results to be expected for the full year or for any other future period. For further information regarding Crawford & Company, and the risks and uncertainties involved in forward-looking statements, please read Crawford & Company's reports filed with the Securities and Exchange Commission and available at www.sec.gov or in the Investor Relations section of Crawford & Company's website at www.crawfordandcompany.com. —Crawford's business is dependent, to a significant extent, on case volumes. The Company cannot predict the future trend of case volumes for a number of reasons, including the fact that the frequency and severity of weather-related claims and the occurrence of natural and man-made disasters, which are a significant source of cases and revenue for the Company, are generally not subject to accurate forecasting. • Revenues Before Reimbursements ("Revenues") —Revenues Before Reimbursements are referred to as "Revenues" in both consolidated and segment charts, bullets and tables throughout this presentation. • Segment and Consolidated Operating Earnings —Under the Financial Accounting Standards Board's Accounting Standards Codification ("ASC") Topic 280, "Segment Reporting," the Company has defined segment operating earnings as the primary measure used by the Company to evaluate the results of each of its four operating segments. Segment operating earnings exclude income taxes, interest expense, amortization of customer-relationship intangible assets, goodwill impairment charges, restructuring and special charges, stock option expense, earnings or loss attributable to non-controlling interests, and certain unallocated corporate and shared costs and credits. Consolidated operating earnings is the total of segment operating earnings and certain unallocated and shared costs and credits. • Earnings Per Share —The Company's two classes of stock are substantially identical, except with respect to voting rights and the Company's ability to pay greater cash dividends on the non-voting Class A Common Stock than on the voting Class B Common Stock, subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of Class A Common Stock must receive the same type and amount of consideration as holders of Class B Common Stock, unless different consideration is approved by the holders of 75% of the Class A Common Stock, voting as a class. —In certain periods, the Company has paid a higher dividend on CRD-A than on CRD-B. This may result in a different earnings per share ("EPS") for each class of stock due to the two-class method of computing EPS as required by ASC Topic 260 - "Earnings Per Share". The two-class method is an earnings allocation method under which EPS is calculated for each class of common stock considering both dividends declared and participation rights in undistributed earnings as if all such earnings had been distributed during the period. • Non-GAAP Financial Information —For additional information about certain non-GAAP financial information presented herein, see the Appendix following this presentation. FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION

3 • One of the world's largest independent providers of global claims management solutions • Multiple globally recognized brand names: Crawford, Broadspire®, GCG® • Clients include multinational insurance carriers, brokers and local insurance firms as well as 200 of the Fortune® 500 GLOBAL BUSINESS SERVICES LEADER INTERNATIONAL 1 Serves the U.K., Canada, Asia Pacific, and European and Latin American markets BROADSPIRE 3 Serves large national accounts, carriers and self-insured entities U.S. SERVICES 2 Serves the United States markets GARDEN CITY GROUP 4 Provides administration for class action settlements and bankruptcy matters

4 TODAY'S AGENDA --- Welcome and Opening Comments --- Third Quarter 2016 Financial Review --- Increased and Updated Guidance

5 Revenues ($ in millions) Consolidated Operating Earnings (1) ($ in millions) • Revenues for the quarter were $277.3 million, down 5% as compared with $293.3 million in the 2015 third quarter • Net income attributable to shareholders of $10.9 million, compared to net loss of $(0.9) million in the 2015 period - a $0.21 improvement in diluted earnings per share • Third quarter operating earnings grew 14%, year over year, to $26.3 million driven by expense reduction combined with strength in Broadspire and U.S. Contractor Connection • Consolidated adjusted EBITDA(1) in the 2016 quarter increased 6% year-over-year to $34.7 million • All four segments had double-digit operating margins in the 2016 third quarter • Business transformation ongoing to unlock value and become more client centric THIRD QUARTER 2016 BUSINESS SUMMARY (1) See Appendix for non-GAAP explanation and reconciliation

6 THIRD QUARTER 2016 Financial Review

7 Unaudited ($ in thousands, except per share amounts) Three Months Ended September 30, 2016 2015 % Change Revenues Before Reimbursements $277,286 $293,335 (5 )% Costs of Services Provided, Before Reimbursements 193,453 211,106 (8 )% Selling, General, and Administrative Expenses 60,325 61,738 (2 )% Corporate Interest Expense, Net 2,262 2,332 (3 )% Restructuring and Special Charges 1,488 11,078 (87 )% Total Costs and Expenses Before Reimbursements 257,528 286,254 (10 )% Other Income 197 217 (9 )% Income Before Income Taxes 19,955 7,298 173 % Provision for Income Taxes 8,606 8,385 3 % Net Income (Loss) 11,349 (1,087 ) (1,144 )% Net (Income) Loss Attributable to Noncontrolling Interests (404 ) 230 (276 )% Net Income (Loss) Attributable to Shareholders of Crawford & Company $10,945 ($857 ) (1,377 )% Earnings (Loss) Per Share - Diluted: Class A Common Stock $0.20 ($0.01 ) 2,100 % Class B Common Stock $0.18 ($0.03 ) 700 % Cash Dividends per Share: Class A Common Stock $0.07 $0.07 — % Class B Common Stock $0.05 $0.05 — % STATEMENT OF OPERATIONS HIGHLIGHTS

8 Revenues by Service Line ($ in millions) Cases Received by Service Line (In thousands) Operating Results (3Q 2016 v. 3Q 2015) • Revenues of $56.5 million versus $62.1 million • Operating earnings of $9.4 million versus $10.8 million • Operating earnings margin of 16.6% versus 17.5% • Cases received of 99,206 versus 96,520 Highlights • Reduction in revenues from outsourcing contract with major U.S. insurance carrier partially offset by continued growth in Contractor Connection • Revenue growth of 19% in Contractor Connection • Cost reduction initiatives mitigated the impact of declining revenues on operating margins • Strong pipeline of sales opportunities being pursued U.S. Catastrophe (CAT) Adjuster Activity • CAT revenues of $9.2 million versus $17.3 million • Average CAT adjusters deployed of 269 in 2016 vs. 458 in 2015 U.S. SERVICES SEGMENT HIGHLIGHTS

9 Revenues by Geographic Region ($ in millions) Operating Results (3Q 2016 v. 3Q 2015) • Revenues of $121.6 million versus $128.2 million • Exchange rates reduced revenues by 5%, or $6.1 million • Operating earnings of $13.2 million versus $8.0 million • Operating earnings margin of 10.9% versus 6.2% • Cases received of 174,284 versus 196,731 Regional Highlights • Operating earnings increased $5.2 million in the segment due to U.K. operating margin improvement reflecting the integration of GAB Robins and expense reductions as compared to the prior year period • Asia-Pacific, Europe and Rest of World revenues negatively impacted by foreign exchange rate fluctuations. Case volumes decreased due to exiting certain unprofitable business lines in Asia-Pacific and Latin America • Revenues in Canada increased during the quarter as a result of cases received from the Fort McMurray wildfires INTERNATIONAL SEGMENT HIGHLIGHTS International Cases Received (In thousands)

10 Revenues by Service Line ($ in millions) Broadspire Cases Received (In thousands) Operating Results (3Q 2016 v. 3Q 2015) • Revenues of $76.7 million versus $74.2 million • Operating earnings of $8.3 million versus $7.4 million • Operating earnings margin of 10.8% versus 10.0% • Cases received of 112,544 versus 111,122 Highlights • Claims and medical management revenues increased slightly due to greater utilization and higher average case values • Strong pipeline of future sales opportunities being pursued • Recent client wins include 7-Eleven and Williams Sonoma in casualty and T-Mobile and Robert Half in disability BROADSPIRE SEGMENT HIGHLIGHTS

11 Backlog ($ in millions) Operating Results (3Q 2016 v. 3Q 2015) • Revenues of $22.5 million versus $28.8 million • Operating earnings of $2.4 million versus $1.1 million • Operating earnings margin of 10.5% versus 4.0% • Backlog of $94 million versus $76 million Highlights • Deepwater Horizon class action settlement project continues to wind down • Retained in the Pfizer Securities Litigation Settlement during the quarter as well as two Wells Fargo cases • Backlog as of September 30, 2016 increased to $94 million as compared to $76 million as of September 30, 2015 • Continued cost reduction activities expected to gain traction in the remainder of 2016 GARDEN CITY GROUP SEGMENT HIGHLIGHTS Revenues ($ in millions)

12 Unaudited ($ in thousands) September 30, 2016 December 31, 2015 Change Cash and cash equivalents $71,663 $76,066 ($4,403 ) Accounts receivable, net 166,993 164,596 2,397 Unbilled revenues, net 112,775 98,659 14,116 Total receivables 279,768 263,255 16,513 Goodwill 92,895 95,616 (2,721 ) Intangible assets arising from business acquisitions, net 91,812 104,861 (13,049 ) Goodwill and intangible assets arising from business acquisitions 184,707 200,477 (15,770 ) Deferred revenues 68,411 73,144 (4,733 ) Pension liabilities 110,722 121,732 (11,010 ) Short-term borrowings and current portion of capital leases 9,334 21,917 (12,583 ) Long-term debt, less current portion 205,248 225,365 (20,117 ) Total debt 214,582 247,282 (32,700 ) Total stockholders' equity attributable to Crawford & Company 144,249 113,693 30,556 Net debt (1) 142,919 171,216 (28,297 ) (1) See Appendix for non-GAAP explanation and reconciliation BALANCE SHEET HIGHLIGHTS

13 Unaudited ($ in thousands) 2016 2015 Variance Net Income Attributable to Shareholders of Crawford & Company $ 28,202 $ 6,183 $ 22,019 Depreciation and Other Non-Cash Operating Items 34,826 34,777 49 Unbilled and Billed Receivables Change (23,746 ) 5,586 (29,332 ) Working Capital Change 24,365 (11,462 ) 35,827 U.S. and U.K. Pension Contributions (13,564 ) (13,945 ) 381 Cash Flows from Operating Activities 50,083 21,139 28,944 Property & Equipment Purchases, net (5,782 ) (10,296 ) 4,514 Capitalized Software (internal and external costs) (13,653 ) (16,182 ) 2,529 Free Cash Flow (1) $ 30,648 $ (5,339 ) $ 35,987 For the year-to-date periods ended September 30, OPERATING AND FREE CASH FLOW (1) See Appendix for non-GAAP explanation

14 Crawford & Company is increasing and updating its guidance for 2016 as follows: YEAR ENDING DECEMBER 31, 2016 Low End High End Consolidated revenues before reimbursements $1.08 $1.10 billion After expected restructuring and special charges, net income attributable to shareholders of Crawford & Company $31.0 $34.0 million Diluted earnings per share--CRD-A $0.58 $0.63 per share Diluted earnings per share--CRD-B $0.50 $0.55 per share Consolidated operating earnings $85.0 $90.0 million Consolidated adjusted EBITDA $125.0 $130.0 million Before expected restructuring and special charges, net income attributable to shareholders of Crawford & Company on a non-GAAP basis $39.0 $42.0 million Diluted earnings per share--CRD-A $0.73 $0.78 per share Diluted earnings per share--CRD-B $0.65 $0.70 per share 2016 GUIDANCE The Company expects to incur restructuring and special charges in 2016 totaling $11.0 million pretax. This is expected to be comprised of $4.4 million related to the Centers and $6.6 million related to previously announced restructuring plans and other special charges. As a result of restructuring charges incurred related to the Centers in 2015 and 2016, the Company expects to achieve $10.3 million in savings in 2016.

15 LOOKING TO 2017 Execute strategic review and realign business structure to be more client centric • Deliver customized value propositions to clients • Increase the speed of doing business enterprise wide Implement cost reduction initiatives to further drive margin expansion Capitalize on cross-selling opportunities across the company Explore new market and product offerings Stabilize revenues and position Crawford for sustained growth • Expand client base • Create robust 2017 sales funnel

16 Appendix THIRD QUARTER 2016

17 Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comparable to other similarly-titled measurements employed by other companies. Reimbursements for Out-of-Pocket Expenses In the normal course of our business, our operating segments incur certain out-of-pocket expenses that are thereafter reimbursed by our clients. Under GAAP, these out-of-pocket expenses and associated reimbursements are required to be included when reporting expenses and revenues, respectively, in our consolidated results of operations. In this presentation, we do not believe it is informative to include in reported revenues the amounts of reimbursed expenses and related revenues, as they offset each other in our consolidated results of operations with no impact to our net income or operating earnings (loss). As a result, unless noted in this presentation, revenue and expense amounts exclude reimbursements for out-of-pocket expenses. Net Debt Net debt is computed as the sum of long-term debt, capital leases and short-term borrowings less cash and cash equivalents. Management believes that net debt is useful because it provides investors with an estimate of what the Company's debt would be if all available cash was used to pay down the debt of the Company. The measure is not meant to imply that management plans to use all available cash to pay down debt. Free Cash Flow Management believes free cash flow is useful to investors as it presents the amount of cash the Company has generated that can be used for other purposes, including additional contributions to the Company's defined benefit pension plans, discretionary prepayments of outstanding borrowings under our credit agreement, and return of capital to shareholders, among other purposes. It does not represent the residual cash flow of the Company available for discretionary expenditures. The reconciliation from Cash Flows from Operating Activities is provided on slide 13. Segment and Consolidated Operating Earnings Operating earnings is the primary financial performance measure used by our senior management and chief operating decision maker to evaluate the financial performance of our Company and operating segments, and make resource allocation and certain compensation decisions. Management believes operating earnings is useful to others in that it allows them to evaluate segment and consolidated operating performance using the same criteria our management and chief operating decision maker use. Consolidated operating earnings represent segment earnings including certain unallocated corporate and shared costs, but before net corporate interest expense, stock option expense, amortization of customer-relationship intangible assets, restructuring and special charges, income taxes, and net income or loss attributable to noncontrolling interests. APPENDIX: NON-GAAP FINANCIAL INFORMATION

18 Adjusted EBITDA Adjusted EBITDA is used by management to evaluate, assess and benchmark our operational results and the Company believes that adjusted EBITDA is relevant and useful information widely used by analysts, investors and other interested parties. Adjusted EBITDA is defined as net income with adjustments for depreciation and amortization, interest expense-net, income tax provision, restructuring and special charges, and non-cash stock-based compensation expense. Adjusted EBITDA is not a term defined by GAAP and as a result our measure of adjusted EBITDA might not be comparable to similarly titled measures used by other companies. Non-GAAP Adjusted Net Income and Diluted Earnings per Share Included in non-GAAP adjusted net income and diluted earnings per share are restructuring and special charges, which arise from non-core items not directly related to our normal business or operations, or our future performance. Management believes it is useful to exclude these charges when comparing net income and diluted earnings per share across periods, as these charges are not from ordinary operations. APPENDIX: NON-GAAP FINANCIAL INFORMATION (continued)

19 Quarter Ended Quarter Ended Full Year September 30, September 30, Guidance Unaudited ($ in thousands) 2016 2015 2016 * Revenues Before Reimbursements Total Revenues $ 295,387 $ 309,984 $ 1,155,000 Reimbursements (18,101 ) (16,649 ) (80,000 ) Revenues Before Reimbursements $ 277,286 $ 293,335 $ 1,075,000 Costs of Services Provided, Before Reimbursements Total Costs of Services $ 211,554 $ 227,755 Reimbursements (18,101 ) (16,649 ) Costs of Services Provided, Before Reimbursements $ 193,453 $ 211,106 Third Quarter Revenues, Costs of Services Provided, and Operating Earnings Quarter Ended Quarter Ended Full Year September 30, September 30, Guidance Unaudited ($ in thousands) 2016 2015 2016 * Operating Earnings: U.S. Services $ 9,379 $ 10,841 International 13,236 7,974 Broadspire 8,263 7,435 Garden City Group 2,351 1,141 Unallocated corporate and shared costs (6,947 ) (4,303 ) Consolidated Operating Earnings 26,282 23,088 $ 87,500 (Deduct) add: Net corporate interest expense (2,262 ) (2,332 ) (10,700 ) Stock option expense (176 ) (30 ) (500 ) Amortization expense (2,401 ) (2,350 ) (9,200 ) Restructuring and special charges (1,488 ) (11,078 ) (11,000 ) Income taxes (8,606 ) (8,385 ) (24,500 ) Net (income) loss attributable to non-controlling interests (404 ) 230 700 Net Income (Loss) Attributable to Shareholders of Crawford & Company $ 10,945 $ (857 ) $ 32,300 RECONCILIATION OF NON-GAAP ITEMS * Midpoints of Company's November 7, 2016 Guidance

20 RECONCILIATION OF NON-GAAP ITEMS (continued) Adjusted EBITDA Quarter Ended Quarter Ended Full Year September 30, September 30, Guidance Unaudited ($ in thousands) 2016 2015 2016 * Net income (loss) attributable to shareholders of Crawford & Company $ 10,945 $ (857 ) $ 32,300 Add: Depreciation and amortization 10,085 10,812 45,000 Stock-based compensation 1,289 1,089 4,000 Net corporate interest expense 2,262 2,332 10,700 Restructuring and special charges 1,488 11,078 11,000 Income taxes 8,606 8,385 24,500 Adjusted EBITDA $ 34,675 $ 32,839 $ 127,500 * Midpoints of Company's November 7, 2016 Guidance

21 RECONCILIATION OF NON-GAAP ITEMS (continued) Net Debt September 30, December 31, Unaudited ($ in thousands) 2016 2015 Net Debt Short-term borrowings $ 8,007 $ 19,958 Current installments of capital leases 1,327 1,959 Long-term debt and capital leases, less current installments 205,248 225,365 Total debt 214,582 247,282 Less: Cash and cash equivalents 71,663 76,066 Net debt $ 142,919 $ 171,216

22 RECONCILIATION OF NON-GAAP ITEMS (continued) Non-GAAP Adjusted Net Income and Diluted Earnings Per Share Three Months Ended September 30, 2016 Unaudited ($ in thousands) Income Before Taxes Income Taxes Net Income Net Income Attributable to Crawford & Company Diluted Earnings per CRD-A Share Diluted Earnings per CRD-B Share GAAP $ 19,955 $ (8,606 ) $ 11,349 $ 10,945 $ 0.20 $ 0.18 Add back: Restructuring and special charges 1,488 (486 ) 1,002 1,002 0.02 0.02 Non-GAAP Adjusted $ 21,443 $ (9,092 ) $ 12,192 $ 11,947 $ 0.22 $ 0.20 Three Months Ended September 30, 2015 Unaudited ($ in thousands) Income Before Taxes Income Taxes Net (Loss) Income Net (Loss) Income Attributable to Crawford & Company Diluted (Loss) Earnings per CRD-A Share Diluted (Loss) Earnings per CRD-B Share GAAP $ 7,298 $ (8,385 ) $ (1,087 ) $ (857 ) $ (0.01 ) $ (0.03 ) Add back: Restructuring and special charges 11,078 (3,124 ) 7,954 7,954 0.15 0.15 Non-GAAP Adjusted $ 18,376 $ (11,509 ) $ 6,867 $ 7,097 $ 0.14 $ 0.12