UK-based Davies has agreed to acquire IAS Claim Services to expand its property field adjusting and TPA solutions in North America.
Financial terms of the deal have not been made public.
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The acquired firm provides tech-enabled claims solutions including, desk and field adjusting along with third-party administration services to the insurance market.
San Antonio, Texas-based IAS specialises in daily property, commercial, catastrophe & large loss claims.
IAS has a wide network of independent adjusters and serves in all the 50 states of the US.
Davies noted that the acquisition is part its strategy to grow business in North America.
As per the terms of agreement, IAS’ CEO Walter Leddy and the existing management team will continue to lead the day-to-day operations of the company.
Davies group CEO Dan Saulter 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 & desk adjusting technology solutions.”
IAS will become a part of Davies’ US-based claims solution business, which is led by CEO Matt Button.
Leddy added: “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.”
In May Davies announced acquisition of resourcing and consultancy firm Grovelands.
Prior to that, funds advised by BC Partners signed a definitive agreement to acquire a majority stake in Davies.
