Insurance outsourcing firm Davies Group secures private equity investment

Davies Group, a UK based outsourced insurance service provider, has secured a majority investment from HGGC, a middle-market private equity firm.

The current management team, led by CEO Dan Saulter, will continue in their current roles.

Davies has completed seven acquisitions in the last four years and has a strong pipeline in both its current market and new geographies including North America and continental Europe.

The company focuses on delivering third party administration and specialist technical services to insurance intermediaries, the Lloyd’s market, insurance companies, and large self-insured businesses.

The company processes more than 170,000 claims annually and manages more than £1.2 billion of annual claim cost across property, casualty, motor, and other niche insurance classes.

“We are thrilled to partner with HGGC and access their expertise investing in technology and tech-enabled businesses,” said Saulter. “This partnership will enable us to grow our business to the next level, by adding new specialty BPO services for our clients and expanding our business internationally, as well as continuing our successful M&A strategy.”

Rich Lawson, co-founder and CEO of HGGC, added: “This is not your ordinary third party insurance administrator. Davies is at the forefront of innovative services within its industry and invests heavily in new technology—such as sophisticated workflow and analytics—that keep them ahead of the pack in the £1.5-billion UK & Ireland claims outsourcing market. They are leading the way in new applications like telematics, drones, and mobile imaging for advanced claims management.”

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