British insurance firm Davies Group has acquired TopMark Claims Management (TMS), a claims service provider based in Glasgow, for an undisclosed price.
Image: UK claims service provider TMS acquired by Davies Group. Photo: courtesy of Helloquence/Unsplash.com.
TMS specializes in property and casualty public sector claims. Its clients include local and central government organizations among others across the UK.
The company’s customized claims and related services include property and business interruption, motor and uninsured loss recovery, all casualty lines of business, personal accident, contractors all risks and travel.
TMS is expected to set the foundation of Davies Public Sector within the Davies Claims Solutions business, which provides third party administration, loss adjusting, and specialist technical services.
Davies Claims Solutions serves insurance intermediaries, UK and global insurance firms, the Lloyd’s market, and large self-insured businesses.
TMS managing director Stephanie Staubach said: “We’re delighted to be joining Davies and to be a part of its exciting growth plans. In addition, it will offer our staff great opportunities for personal development and career progression.
“I would also like to take the opportunity to thank our clients for putting their trust in us over the last 12 years”.
Davies Group said that Staubach will continue to head the business and will report to Lesley Johnson, Davies Casualty’s managing director.
Davies Group CEO Dan Saulter said: “I am pleased to welcome Stephanie and the team to Davies. The team have a great reputation and bring a wealth of specialist skills, knowledge and technical expertise to our growing business.
“We look forward to working together to continue to deliver for our clients alongside new investment to help Stephanie and her team to grow TMS”.
Following the acquisition of TMS, Davies Group said that its team has grown to more than 1,700 professionals, who deliver core operations, digital solutions and consulting.
The team of Davies Group is said to serve over 400 insurance, highly regulated and global businesses, from its command centers across the UK, Bermuda, Ireland, and North America.
In November 2018, Davies Group announced the acquisition of Veriphy to add new regulatory and compliance capability. Veriphy offers people and company checks, training, and outsourced identity verification solutions to clients in insurance and other highly regulated markets.
A month before that, Davies Group acquired the claims business of Direct Group from Ardonagh Group.