Davies snaps up national audit and loss-control firm
Davies snaps up national audit and loss-control firm | Insurance Business Canada
Mergers & Acquisitions
Davies snaps up national audit and loss-control firm
Acquired business provides services across the US and in parts of Canada
Mergers & Acquisitions
By
Ryan Smith
Davies, a specialist professional services and technology business serving insurance and highly regulated markets, has announced that it has acquired Colorado-based Afirm Solutions, a specialist provider of premium audit, loss-control inspection and risk mitigation services for insurance carriers, insurance distribution platforms and third-party administrators.
Afirm is a nationwide, full-service provider of audit and loss-control inspection services for personal and commercial lines in all 50 states and parts of Canada. It is the only premium audit and loss-control vendor with operations in Canada, Davies said.
Afirm will become part of Davies US, led by CEO Matt Brunton. Afirm president Mark de Waal will continue to lead the business and will join the Davies US insurance services leadership team. All Afirm employees will continue in their roles with Davies US.
“I’m delighted to welcome Mark and the entire Afirm team to Davies,” said Dan Saulter, group CEO for 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 and evolve. “Many of our insurance and 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 and loss-control teams together with our existing insurance operations in North America enables us to take an expanded specialist and tech-enabled audit and loss-control offering to our 1,500-plus insurance and highly regulated clients globally.”
“I’m really pleased that Afirm is joining Davies,” de Waal said. “Over recent years, Davies has accelerated into the US 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 and 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.”
Last month, Davies announced the appointment of David Leedham as group chief transformation officer. The company also recently restructured to simplify operations after a period of sustained M&A growth.
Have something to say about this story? Let us know in the comments below.
Related Stories
Keep up with the latest news and events
Join our mailing list, it’s free!
