Exhibit 99.2

Crawford & Company

Reconciliation of Operating Earnings to Net Income

(in thousands)

(unaudited)

	2008						2007												2006												2005
	2Q			1Q			4Q			3Q			2Q			1Q			4Q			3Q			2Q			1Q			4Q			3Q			2Q
Operating Earnings (1)	$	19,159		$	19,831		$	10,056		$	8,917		$	10,736		$	7,521		$	6,671		$	7,689		$	7,518		$	10,317		$	10,143		$	4,255		$	5,506
Net Corporate Interest Expense		(4,656	)		(4,416	)		(4,154	)		(4,572	)		(4,232	)		(4,368	)		(3,322	)		(839	)		(594	)		(998	)		(929	)		(1,334	)		(1,355	)
Stock Option Expense		(279	)		(195	)		(290	)		(260	)		(346	)		(295	)		(355	)		(248	)		(351	)		(266	)		—
Amortization of Customer-Relationship Intangibles		(1,506	)		(1,508	)		(1,507	)		(1,575	)		(1,507	)		(1,436	)		(1,124	)		—			—			—			—			—			—
Income Tax (Provision)/Benefit		(4,786	)		(4,644	)		(801	)		943			(3,443	)		(2,095	)		(72	)		(3,423	)		(2,360	)		(3,205	)		(3,262	)		(1,034	)		(1,470	)
Other gains/(expenses)		—						—			—			4,844			3,980			(3,096	)		3,069			—			—									—
Net Income (Loss)	$	7,932		$	9,068		$	3,304		$	3,453		$	6,052		$	3,307		$	(1,298	)	$	6,248		$	4,213		$	5,848		$	5,952		$	1,887		$	2,681
12-month trailing operating earnings (1)	$	57,963		$	49,540		$	37,230		$	33,845		$	32,617		$	29,399		$	32,195		$	35,667		$	32,233		$	30,221

(1) Operating earnings is a non-GAAP financial measure representing earnings before net corporate interest expense, stock option expense, amortization of customer-relationship intangible assets, other gains and expenses, and income taxes.