The purchase comes after Davies completed its buy of Asta Capital earlier in July
London-based Davies (formerly known as Davies Group) has today (8 September 2022) purchased Florida headquartered third party administration (TPA) and independent adjusting firm Johns Eastern, strengthening its North American capabilities in end-to-end claims administration and catastrophe response.
Johns Eastern’s capabilities span across workers compensation, auto, haulage, general liability, property and motor truck cargo claims. These lines will form part of Davies’ established claims operations in the US.
Don Lederer, Johns Eastern’s president and chief executive, will continue to lead the business as well as taking on additional responsibilities as chief executive of Davies’ TPA operations in the US. He will report directly to Matt Button, chief executive of Davies US.
Dan Saulter, Davies’s group chief executive, said: “I’m thrilled to welcome Lederer and the entire Johns Eastern team to Davies. The business has an excellent reputation in the market for its long-lasting relationships with clients and for its employees’ experience and tenure, dedication and exceptional service delivery.”
News of the acquisition follows Davies completing its purchase of Lloyd’s managing agent Asta Capital in July.
Waller Helms Advisors served as financial advisors to Johns Eastern during this transaction.
Expanding into US
Johns Eastern combines technology enabled end-to-end claims management services with field adjusting expertise, managing the claims process through to settlement for large insurers, self-insured corporates, public entities and the Lloyds of London market.
Lederer said: “I’m really pleased that Johns Eastern is joining Davies. Over recent years, Davies has accelerated into the US market and by combining our businesses we have a stronger service proposition for insurance clients who are seeking to engage with a trusted partner that heavily invests in technology and delivers outstanding service experiences.
”I look forward to seeing the enlarged business bring additional development opportunities for our people and clients and to working with Saulter, Button and the wider Davies team to develop and strengthen our claims business in the US.”
Davies has increased its annual investment in innovation and digital transformation more than four-fold this year.
Investments have been made to support development of the digital claims experience including a fully automated low-value property claims solution and Electronic First Notification of Loss (EFNOL) technology to help insurers tackle increased frequency and severity of catastrophic weather events.
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