Davies adds new claims capability through the acquisition of Direct Group’s claims businesses and signs long term claims deal with ArdonaghDavies adds new claims capability through the acquisition of Direct Group’s claims businesses and signs long term claims deal with Ardonagh https://davies-group.com/wp-content/uploads/2018/10/Web-Banner-1024x341.jpg 1024 341 Davies Group https://secure.gravatar.com/avatar/120316903cbd2b5ea32e7afd5f2ca236?s=96&d=mm&r=g
Davies today announces the acquisition of Ardonagh-owned Direct Group’s claims businesses, adding new depth to its claims capability across multiple specialty and niche lines, as well as market-leading property contents validation platform, Valid8.
Under the deal, Direct Group’s claims business will join with Davies’ Claims Solutions business, creating the leading independent end-to-end claims solutions provider, which will continue to be led by Executive Chairman Darren Coombes and COO Kath Mainon. Direct Group’s Managing Director of Claims, Russell Crewe will join Davies’ Executive Leadership Team, reporting directly to Kath Mainon.
Alongside the acquisition, Davies and Ardonagh have announced a long term claims management deal that will see Davies continue to support Ardonagh’s underwriting and broking businesses in claims handling, loss adjusting and fulfilment.
The deal marks Davies third deal of 2018 after adding insurance services and captive management capability through the acquisition of JMD, Requiem and Quest in January this year; and most recently adding Ember, a leading customer experience (CX) consulting and digital solutions business. In the past year, Davies added more than 100 new accounts from existing and new clients to its growing operations and digital platform, and recently reported strong revenue growth of 41% in the year to 30 June 2018, including 11% organic growth across its platform.
Following the Direct Group deal, Davies boasts a team of more than 1,600 professionals delivering core operations, digital solutions and consulting to more than 400 insurance, highly regulated and global businesses, from its bases in the UK, Ireland and Bermuda. Earlier in the year, Davies simplified its operating structure, with the creation of three market-facing businesses: Claims Solutions, Insurance Services and Customer Solutions.
Dan Saulter, Group Chief Executive Officer of Davies said: “I am excited to welcome Russell Crewe and the Direct Group team to Davies. We have worked with Direct Group as a partner and a client over many years and we believe our track record of developing our people, investment in technology, and a focus on innovation will mean lots of new opportunities for staff and for client delivery. In addition we are thrilled to announce our new long term deal to support David Ross and the wider team right across Ardonagh, with their claims delivery as they continue to grow their business in the years ahead.”
David Ross, Chief Executive Officer of the Ardonagh Group commented: “Under the ownership of Davies, Direct Group’s claims operation will be completely at home within one of the leading claims and insurance service providers, and will undoubtedly benefit from the combined expertise, investment and ambition that Davies has in this specialist market. We’re incredibly proud of the value the team have delivered as part of The Ardonagh Group and we look forward to continuing our strong relationship with the team, and further building our relationship with the wider Davies business.”