Davies Group to acquire comp TPA
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Davies Group Ltd. has agreed to acquire workers compensation third-party administrator Alternative Service Concepts LLC, the London-based portfolio company announced Thursday.
Terms of the deal were not disclosed.
ASC will join Davies’ newly formed North American Claims Solutions business, acting as the TPA. All ASC employees will continue in their roles as Davies employees, the company said.
Headquartered in Nashville, Tenn., ASC provides workers compensation and property/casualty claims administration services to U.S. and Lloyd’s of London insurance businesses. In 2018, ASC reported total revenues of more than $16 million, with about 60% of its claims business workers compensation.
This is Davies Group’s second U.S.-based claims acquisition and sixth of the year. In September, Davies acquired Independence, Ohio-based Frontier Adjusters Inc, a multiline independent claims adjusting provider, which was the company’s first U.S. claims acquisition.
So far this year, Davies has added more than 150 accounts and has an international team of 2,200 insurance, claims and consulting and technology professionals, according to the company.
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