LONDON, UK – 1 November 2023 – Davies, the leading specialist professional services and technology business serving insurance and highly regulated markets, today announced that it has signed a deal with Brown & Brown Insurance (NYSE: BRO, “Brown & Brown”) to acquire four claims and services businesses. The deal will also establish a long-term strategic partnership between the two firms, which will see Davies provide additional solutions and services to Brown & Brown.  

American Claims Management (ACM), Preferred Governmental Claims Services (PGCS), USIS and ICA will all form part of the acquisition by Davies. ACM is a third-party claims administrator; PGCS is a claims management business specializing in Florida governmental and municipality agencies; USIS is a leading supplier of managed care services and TPA for workers’ compensation and liability claims; ICA is a premier independent property adjusting firm. As part of the deal, more than 600 employees will join Davies, from Brown & Brown.  

In one of the largest deals completed by Davies in the U.S., the four specialist businesses will strengthen the firm’s existing TPA offering in property and workers’ compensation claims, catastrophic loss adjusting & response management, auto & general claims, as well as professional liability claims management. The deal will also add a number of niche new services, including dedicated medical claims management and governmental third-party claims solutions, for Davies’ clients. Additionally, and forming part of the deal, Davies will enter into a long-term agreement to become a strategic partner to Brown & Brown, providing a range of outsourced services to the business.  

Brown & Brown executive, Dhara Patel, will join Davies and will continue to lead the businesses, reporting directly to Matt Button, CEO of Davies North America.  

Over the past 10 years, Davies has consistently delivered strong organic growth alongside a program of carefully targeted M&A that has enabled it to grow revenues more than 25-fold over that period.  In the last five years, Davies has executed a strategy of adding new capabilities, investing in technology & transformation, and expanding into new geographic markets, all focused on providing high-value solutions for its 1,500+ clients. 

Dan Saulter, Group CEO, Davies, said: “We are thrilled to sign this deal with Brown & Brown, enabling us to own, invest and grow ACM, PGCS, USIS and ICA, but also to build a strategic relationship with Brown & Brown, to support the business with claims and wider solutions as they continue to grow their business in the years ahead. 

“This acquisition encompassing four businesses is one of the largest Davies has ever completed on U.S. soil and represents the huge gains we are making in North America. Each of the four businesses is well-known in the market for delivering innovative solutions in its own area of expertise. By broadening our service offering, we are able to provide an excellent service to our insurance & highly regulated clients from across the sector with a variety of specialisms.” 

Chris Walker, Brown & Brown EVP, said, “We’re delighted with our new strategic partnership with Davies, as we share the same goals for these service companies and believe that Davies will continue to develop on their strengths.” 

Dhara Patel, Brown & Brown Services Segment President, said: “On behalf of all four companies, I can express our excitement at joining Davies. Over the past few years, Davies has made significant strides in the U.S. by continuing to invest in the latest technology and talent. By joining forces with Davies, we gain an incredible opportunity to amplify and accelerate innovative service offerings to our customers. 

“This strategic partnership empowers us to harness the collective power of our talents, resources and technologies, ultimately benefiting our customers and helping with their claims strategies.”