Davies accelerates North American expansion plans
Insurance service provider Davies has acquired TriPlus Service, a Massachusetts-based long term care insurance third party administrator (TPA), as part of its expansion plans in North America.
TriPlus provides claims and policy administration management solutions as well as actuarial and claims consulting.
Under the deal, TriPlus will join Davies' claims solutions business in the US, enabling the company to widen its claims and administration offering to include long term care. Peter Lucas, CEO of TriPlus will continue to lead the business and report to US claims solutions CEO Matt Button.
The deal marks Davies fifth acquisition of 2020. In September 2019 Davies announced its first major US deal with the acquisition of Frontier Adjusters, a multi-line independent claims adjusting provider, serving all 50 US states; closely followed in October 2019 by Alternative Service Concepts, the workers’ compensation and property and casualty TPA; enabling the group to provide its insurance clients with multi-line claims solutions in the US and Canada, in addition to its established operations in the UK and Ireland.
Dan Saulter, group CEO of Davies, said: “I’m thrilled that the TriPlus team have decided to join Davies and partner with us as we look to grow our Claims Solutions business in the US and broaden the range of services we can provide to our clients. TriPlus has an excellent reputation and their client service focused culture is closely aligned with ours.”
He added: “Extending and growing our operations in the US is a core part of our strategy; and we plan to continue developing our capabilities in the US both in our claims areas, but also more widely across our other core competencies.”
Peter Lucas, CEO of TriPlus added: “The leadership team and I are delighted to be joining forces with Davies and to be part of their ambitious growth plans in the US. We look forward to working together to continue to deliver for our clients, and being able to offer a deeper range of specialist skills to Davies wider client base.”
