Davies continues acquisitions spree
Dan Saulter, CEO, Davies Group
Professional services group Davies has agreed to buy Merlinos, an actuarial firm providing advising re/insurers, captives, self-insured groups and others. In the past decade, the Georgia-based firm has assisted in the formation and operation of over 200 alternative risk transfer vehicles, including captives, risk retention groups, self-insurance funds and workers’ compensation trusts.
According to Davies, the firm will strengthen its global insurance services led by CEO Steven Crabb. Merlinos’ current management will continue to lead the day-to-day operations and report to Davies’ Insurance Services US CEO Robert Dewen. Its 50 employees will also continue in their roles.
It is just the latest in a string of acquisitions by Davies since international investment firm BC Partners took a majority stake in the firm in March. In September, Davies announced it had signed a deal to acquire Asta, the leading provider of insurance management solutions to Lloyd’s Syndicates; a month later, it expanded its underwriting support capabilities in North America through the acquisition of IRS, a property and casualty insurance inspection firm; and earlier this year.
“We are excited to welcome the whole Merlinos team to Davies,” said Dan Saulter, Davies group CEO. “The business is a fantastic fit for us, bringing a wealth of experience serving the insurance market with a diverse outlook and international client base of insurers, public entities, captives and self-insured entities.
“The expansion of our operations across North America with additional and new high-value services capability continues to be an important strategy for Davies. The addition of Merlinos significantly enhances our existing actuarial services capability and will accelerate growth in this high-value service space.”
Davies, insurance, reinsurance, Merlinos, captives, risk, acquire, compensation, trusts, North America