Davies to acquire four Brown & Brown units
Davies, the professional services and technology business serving insurance and highly regulated markets, has signed a deal with Brown & Brown Insurance to acquire four claims and services businesses.
The deal will also establish a long-term strategic partnership between the two firms, which will see Davies provide additional solutions and services to Brown & Brown.
American Claims Management (ACM), Preferred Governmental Claims Services (PGCS), USIS and ICA will all form part of the acquisition by Davies. ACM is a third-party claims administrator; PGCS is a claims management business specializing in Florida governmental and municipality agencies; USIS is a leading supplier of managed care services and TPA for workers' compensation and liability claims; ICA is a premier independent property adjusting firm. As part of the deal, more than 600 employees will join Davies, from Brown & Brown.
In one of the largest deals completed by Davies in the US, the four specialist businesses will strengthen the firm’s existing TPA offering in property and workers’ compensation claims, catastrophic loss adjusting & response management, auto & general claims, as well as professional liability claims management.
The deal will also add a number of niche new services, including dedicated medical claims management and governmental third-party claims solutions, for Davies’ clients. Additionally, and forming part of the deal, Davies will enter into a long-term agreement to become a strategic partner to Brown & Brown, providing a range of outsourced services to the business.
Brown & Brown executive, Dhara Patel, will join Davies and will continue to lead the businesses, reporting directly to Matt Button, CEO of Davies North America.
