Davies Group has acquired Northshore International Insurance Services, a provider of audit, claims management and subrogation management and consulting services to the global insurance market.
Based in Massachusetts and Illinois, Northshore and International Subrogation Management will join Davies’ existing insurance services business unit, led by Steven Crabb, CEO of Davies.
As part of the acquisition, Steve Murphy, CEO of Northshore, will continue to lead the business and all Northshore employees will join Davies’ global team.
In July 2020, Davies acquired Citadel Management Bermuda and Cedar Consulting (Citadel Risk), a captive management and consulting businesses of insurance and reinsurance specialists.
Commenting on the deal, Dan Saulter, group CEO of Davies said: “I’m delighted to welcome Steve Murphy, David Ives and the Northshore team to Davies. Our insurance clients are seeking ways to manage cost and risk across their portfolios, and the new domain expertise that Northshore brings will allow us to better support our 750 plus clients around the world”.
He added: “As we head into 2021 we will continue to invest and push for organic growth in all our core markets, as well as working with like-minded businesses via merger and acquisition to ensure we can deliver for our insurance and highly regulated clients.”
Steve Murphy, CEO of Northshore, notes: “We are extremely pleased that the Northshore team will be joining Davies and will be part of its investment and growth plans in North America. Davies’ story of growth and investment in people and technology is one that resonated with the team at Northshore.”
“Similarly, the culture at both Davies and Northshore focuses on employees, clients and community. This acquisition will give our employees more career development opportunities, as well as give them access to employee initiatives such as the Davies disruptive thinking innovation lab and their focus on giving back to local communities through the Davies Foundation,” Murphy added.
