The purchase is Davies’ sixth acquisiton of the year
Davies Group has made its sixth acquisition of the year with the purchase of Alternative Service Concepts, a US-based third party claims administrator.
The purchase of Nashville, Tennessee-based ASC continues Davies Group’s expansion into North America. Last month it bought Ohio-based Frontier Adjusters.
ASC offers end-to-end claims solutions to US and Lloyd’s insurance businesses, public entities, insurance agencies and brokers, Davies explained in a statement.
Davies has been on the acquisition trail since Canadian investor Alberta Investment Management Corporation (“AIMCo”) took a minority stake in the business at the beginning of the year.
Davies formed a North American claims solution business this year with the aim of spearheading the next phase of its international expansion.
Commenting, Davies Group chief executive Dan Saulter said he was ”thrilled that the ASC team have decided to join Davies and partner with us as we look to grow our US Claims Solutions business.
”ASC has an excellent reputation and their client service focused culture is closely aligned with ours.
”Adding ASC to our newly formed independent adjusting business means we can now provide our insurance clients with multi-line claims solutions in the US and Canada, in addition to our established operations in the UK and Ireland”.
“Adding claims TPA capability is an important part of our growth strategy in North America where we plan to continue developing our solutions through adding further complementary TPA and supply chain capabilities both organically and through additional acquisitions in the future.”
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