Acquisition announcement: Davies announces second US claims deal as it pushes North American expansion plansAcquisition announcement: Davies announces second US claims deal as it pushes North American expansion plans https://davies-group.com/wp-content/uploads/2019/10/Website-1-1024x342.png 1024 342 Davies Group https://secure.gravatar.com/avatar/ed4c8b7e64855278c4a2c8428ec2a92e?s=96&d=mm&r=g
Davies today announces the acquisition of Alternative Service Concepts, LLC (“ASC”), the workers’ compensation and property and casualty third party administrator (“TPA”), headquartered in Nashville, Tennessee. Operating nationally across the US, ASC provides specialist end-to-end claims solutions to US & Lloyds insurance businesses, public entities, self-insured entities, insurance agencies and brokers.
ASC will join Davies’ newly formed North American Claims Solutions business, alongside its independent adjusting business, Frontier. ASC will form a new TPA arm within Claims Solutions, enabling Davies to offer its clients a turnkey solution throughout the US. President of ASC, Glenn Backus, will continue to lead the business with close support from CFO, Carolyn Adkins, COO, Pam Finch and the wider ASC team. All ASC employees will continue in their roles as Davies employees.
The deal is Davies’ sixth acquisition of 2019. Earlier this year, Canadian investor AIMCo took a minority stake in the group alongside majority shareholder HGGC to support Davies’ next phase of international expansion and continued digital transformation. Davies’ team of more than 2,000 professionals deliver turn-key solutions across claims, insurance services, consulting and technology in partnership with more than 500 insurance, highly regulated and global businesses from its operations in the UK, Ireland, Bermuda, the US and Canada.
Dan Saulter, Group Chief Executive commented: “I am 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”.
He added: “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.”
Glenn Backus, President of ASC commented: “I am delighted ASC will be joining Davies and excited about their ambitious growth plans in North America. I look forward to working with the wider Davies team to offer our solutions in this new geographic reach to our clients.”
Backus added “Joining forces with Davies creates exciting opportunities for our staff and clients. Davies’ focus on employee engagement and investment in technology and innovation was a big attraction for ASC and we are looking forward to being part of the plans for further expansion in the US.”
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