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Davies Group Ltd. has acquired long-term care insurance third-party administrator TriPlus Services Inc., the London-based claims management and insurance services firm said Monday in a statement.
Terms of the transaction were not disclosed.
TriPlus Services, based in Hopkinton, Massachusetts, provides long-term care insurance clients with claims and policy administration management services.
Under the terms of the deal, TriPlus Services will continue to be led by CEO Peter Lucas, who will report to Matt Button, Davies’ U.S. claims solutions CEO. The TPA’s approximately 200 employees will continue in their roles as Davies employees.
This is Davies’ fifth acquisition in 2020.
Davies Group Ltd. has agreed to acquire workers compensation third-party administrator Alternative Service Concepts LLC, the London-based portfolio company announced Thursday.