Davies Announces Acquisition of TriPlus as it Steps-up North American Expansion Plans

LONDON, UK – 21 September 2020 – Davies, the leading specialist professional services and technology business, today announces the acquisition of TriPlus Services Inc, the long term care insurance third party administrator (“TPA”), based in Massachusetts, US. TriPlus provides its long term care carrier clients with claims and policy administration management solutions as well as actuarial and claims consulting.   

Under the deal TriPlus will join Davies established Claims Solutions business in the US, enabling Davies to widen its claims and administration offering to include long term care. Peter Lucas, CEO of TriPlus will continue to lead the business and report to US Claims Solutions CEO, Matt Button. All 200+ TriPlus employees will continue in their roles as Davies employees. 

In September 2019 Davies announced its first major US deal with the acquisition of Frontier Adjusters, Inc, the multi-line independent claims adjusting provider, serving all 50 US states; closely followed in October 2019 by Alternative Service Concepts LLC, the workers’ compensation and property and casualty TPA; enabling the group to provide its insurance clients with multi-line claims solutions in the US and Canada, in addition to its established operations in the UK and Ireland.  

The deal marks Davies fifth acquisition of 2020, following the acquisition of: Keoghs, the insurance-focused, top-50 law firm, which was announced in January and completed earlier in March, Codebase8 the automation and digital solutions provider to the insurance and other highly regulated markets, Citadel & Cedar Consulting the captive management & consulting businesses, & ContactPartners the specialist cloud application provider, delivering bespoke customer contact technologies.  

Globally Davies has more than 4,000 colleagues, with operating centres across the UK, Ireland, Bermuda, the US and Canada.  The business delivers professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation & change management. 

Dan Saulter, Group CEO, Davies commented: “I’m thrilled that the TriPlus team have decided to join Davies and partner with us as we look to grow our Claims Solutions business in the US and broaden the range of services we can provide to our clients. TriPlus has an excellent reputation and their client service focused culture is closely aligned with ours.”  

He added: “Extending and growing our operations in the US is a core part of our strategy; and we plan to continue developing our capabilities in the US both in our claims areas, but also more widely across our other core competencies.” 

Peter Lucas, CEO, TriPlus added: “The leadership team and I are delighted to be joining forces with Davies and to be part of their ambitious growth plans in the US. We look forward to working together to continue to deliver for our clients, and being able to offer a deeper range of specialist skills to Davies wider client base.”