Specialist professional services and technology firm Davies has acquired Lloyd’s third party managing agent Asta in an effort to add strength and reach to its global insurance services practice.
London-based Asta was key in the development of Lloyd’s recent Syndicate-in-a-box (SIAB) framework and is seen as a way to widen Davies’ ability to offer end-to-end insurance management solutions to intermediaries, captives, syndicates, insurers, reinsurers and insurtechs.
As part of the deal Asta CEO Julian Tighe and Asta Chief Underwriting Officer, Simon Norton, will retain their current responsibilities and additionally assist in growing Davies insurance services practice.
Both Julian and Simon will join Davies’ Global Executive Leadership Team.
Dan Saulter, Group CEO, Davies commented, “I am delighted to welcome Julian, Simon and the wider Asta team to Davies.
“The business is a fantastic fit for us, bringing a wealth of underwriting management experience across the Lloyd’s market, as well as widening our insurance services offering for our insurance and highly regulated clients globally.”
Saulter added, “To compete and win in an increasingly integrated global insurance market, it is essential that we can offer our clients valuable solutions right across the insurance, claims and risk value chain.
“The addition of Asta to our growing Davies platform provides an exciting opportunity for us to take a new message to our clients, and to provide new opportunities for our teams across the world.”
Julian Tighe, CEO, Asta commented, “We are extremely pleased that the Asta team will be joining Davies. Davies’ story of growth, investment in people and technology is one that resonated with the team at Asta.
“Similarly, the culture at both Davies and Asta focuses on employees, clients and service delivery. Asta’s current and prospective clients will benefit from having access to a broader technology led platform and deeper resource base. Being part of the Davies group will give our employees additional career development opportunities, as well as give them access to a wealth of employee initiatives.”