Davies snaps up audit, loss control firm for US expansion
Insurance services provider Davies has acquired an audit, loss control inspection and risk mitigation firm to expand its offering in North America.
Davies has snapped up Fort Collins, Colorado-based Afirm Solutions. Afirm is a full-service provider of audit and loss control inspection services for insurance carriers, insurance distribution platforms, and third-party administrators (TPAs) across personal & commercial lines of insurance throughout all 50 US states & parts of Canada.
Following the deal, Afirm will form part of Davies US led by CEO Matt Button. Afirm president Mark de Waal will continue to lead the business, joining the insurance services leadership team within Davies US. All Afirm employees will continue in their roles within Davies US.
In recent years, Davies has established and expanded its operations in the US through a combination of strong organic and M&A growth, with the firm now boasting claims solutions, insurance operations, consulting & technology capability spanning Property & Casualty, Life & Health, and Transportation insurance markets.
Davies’ offering in the US includes a full range of TPA and loss adjusting solutions across all 50 states, specialised insurance operations & technology consulting as well as captive management, auditing, actuarial, subrogation, excess claims management and risk & inspection solutions.
Dan Saulter, Group CEO, Davies commented: “I’m delighted to welcome Mark and the entire Afirm team to Davies. The business has an excellent track-record of delivering strong technological capabilities and is well-known in the market for its ability to innovate & evolve.
“Many of our insurance & highly regulated clients are seeking to work with fewer strategic partners, and to build long-term relationships across a range of services to support their growth and delivery. Bringing Afirm’s premium audit & loss control teams together with our existing insurance operations in North America enables us to take an expanded specialist & tech-enabled audit and loss control offering to our 1,500+ insurance & highly regulated clients globally.”
Mark de Waal, president of Afirm added: “I’m really pleased that Afirm is joining Davies. Over recent years, Davies has accelerated into the U.S. and continued to invest in technology and innovation for its clients. By combining our businesses, we have a stronger service proposition for insurance clients who are seeking to engage with fewer trusted partners that heavily invest in technology to deliver time sensitive and accurate premium audit, inspection & risk mitigation reports. The cultural fit with Davies was an important factor as we planned for our company’s future and joining Davies will present our employees with more career development opportunities and an exciting future as the company continues to grow.”
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