dan-saulter-group-chief-executive-davies-1
16 June 2021Insurance

Davies acquires Texas-based claims company in latest chapter of US expansion

Davies has acquired a US-based property claims firm in the latest chapter of its international expansion and digital transformation, which has been turbo-charged by the intervention of new majority shareholder BC Partners in March 2021.

Davies, the specialist professional services and technology business serving insurance and highly regulated markets, has signed a purchase agreement to acquire IAS Claim Services (IAS). The firm provides tech-enabled claims solutions including desk adjusting, field adjusting and third party administration (TPA) services to the insurance market.

IAS is based in San Antonio, Texas, and specialises in daily property, commercial, catastrophe and large loss claims. It has a nationwide network of independent adjusters serving all 50 states.

IAS will form part of Davies’ existing US-based claims solutions business, which is led by chief executive officer (CEO) Matt Button. Walter Leddy, IAS’ CEO, will continue to lead the day to day operations, alongside his existing management team, while the wider team will continue in their existing roles within Davies.

Davies has established and expanded its operations in the US through a combination of organic growth and mergers and acquisitions. It now has claims capability spanning property and casualty, life and health, and transportation insurance markets. Davies’ offering in the US includes a full range of TPA and loss adjusting solutions across all 50 states, as well as captive management, auditing, and actuarial solutions.

Globally Davies’ 4,500 colleagues operate across Bermuda, Canada, Ireland, the UK and US.

Dan Saulter, group CEO at Davies, said: “IAS brings a wealth of knowledge and expertise to the group and has invested heavily in developing proprietary technology, including its national loss adjusting platform, virtual inspection and desk adjusting technology solutions.”

He added: “Diversifying our solutions and expanding our operations across North America is an important plank to our growth strategy. Through the addition of IAS we can become more valuable to our 800+ global insurance and highly regulated clients.”

Walter Leddy, CEO of IAS, said: “Over recent years Davies has accelerated into the US market, and by combining our businesses we have a stronger service proposition for insurance clients who are seeking to engage with a trusted partner that heavily invests in technology, delivers outstanding service experiences, and enables disruption in the market.” Waller Helms Advisors served as financial advisors to IAS during this transaction.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
20 October 2021   Diversifying solutions and expanding operations across North America is an important plank to our growth strategy, says CEO Dan Saulter.
Insurance
8 September 2021   CEO Dan Saulter called the business a 'fantastic fit' in its strategy to significantly expand insurance services capabilities.
Insurance
11 June 2021   SKW specialises in customer experience, technology implementation, managed services and outsourcing strategies for insurance and financial services clients.