Davies Group has acquired Direct Group’s claims businesses from Ardonagh.
The acquisition adds new depth to its claims capability across multiple specialty and niche lines, as well as property contents validation platform, Valid8.
Under the deal, Direct Group’s claims business will join the Davies claims solutions business, which will continue to be led by executive chairman Darren Coombes and chief operating officer Kath Mainon.
Direct Group’s managing director of claims, Russell Crewe, will join the Davies executive leadership team, reporting directly to Mainon.
Alongside the acquisition, Davies and Ardonagh have agreed a long-term claims management deal.
Davies will support Ardonagh’s underwriting and broking businesses in claims handling, loss adjusting and fulfilment.
The acquisition is Davies’s third of 2018 after adding insurance services and captive management capabilities through the acquisition of JMD, Requiem and Quest in January of this year,
Most recently, Davies added Ember, a customer experience consulting and digital solutions business.
In the past year, Davies has 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 now boasts a team of more than 1,600 professionals delivering core operations, digital solutions and consulting to more than 400 businesses, from its bases in the UK, Ireland and Bermuda.
Dan Saulter, chief executive officer of Davies Group, 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 Ardonagh, 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.”