Davies Group acquires insurance services firm Ambant
Davies Group has acquired specialist insurance and professional services provider Ambant.
Based in the City of London, Ambant’s 40 staff provide operations and consulting services to the MGA, Lloyd’s, UK and international insurance markets. Ambant’s platform provides integrated management, capacity and regulatory services to MGAs, brokers and coverholders.
Ambant will form a new insurance services division in Davies, sitting alongside Davies’ claims solutions, complaints handling, and regulatory services businesses.
Ambant will retain its brand, with chief executive Steven Crabb reporting to Davies chief executive Dan Saulter. The Ambant executive team will all join Davies and will become shareholders, alongside HGGC and Davies’ management.
This deal marks Davies’ third acquisition since Silicon Valley investor HGGC took a majority stake in the business in January. In March Davies added specialist regulatory and compliance services business Cynergie to the group. In August it announced the acquisition of casualty claims business CMSL. Over the course of 2017 Davies has added more than 50 new accounts to its growing operations and digital platform, and now boasts a team of 1,000 insurance, claims and regulatory professionals operating across 25 UK & Ireland locations.
“Davies and Ambant have worked closely and shared numerous client relationships in recent years,” said Saulter. “Developing our insurance services capability is a central plank of our strategy.”