Davies has acquired The Littleton Group (Littleton), a Texas-based provider of insurance claim services.
Littleton delivers third party administration (TPA) and claims adjusting for insurance carriers, managing general agents, offshore and Stateside captives, municipalities, private entities, and self-insured businesses.
As part of the acquisition, Littleton will join Davies’ US based claims solutions arm, adding “significant scale” to its existing property and casualty operations.
Littleton’s current CEO Steve Streetman will join Davies in an advisory and consulting role, to support integration and growth initiatives.
Meanwhile, Jeff Bode, Littleton chief operation officer, will continue to lead the day to day operations, reporting directly to Peter Wilson who was recently promoted to head Davies’ US property and casualty claims operations.
All 165 employees will continue in their roles within Davies.
Commenting on the acquisition, Dan Saulter, group CEO of Davies, says: “I am delighted to welcome Steve Streetman and the wider Littleton team to Davies. Building our property and casualty claims capability in the US is a strategic focus and a growing market.”
Streetman notes: “We’re really pleased to be joining forces with Davies, an organisation committed to growth and innovation within the claims market in the US. Davies’ history of investing in people and technology, along with a commitment to always put the interests of clients first, aligns well with our values.”
“The cultural fit with Davies was an important factor and I believe the combination with Davies will present Littleton employees more career development opportunities and an exciting future as the company continues to grow,” he concludes.
Waller Helms Advisors served as financial advisors to Littleton during this transaction.
In February, aiming to broaden Davies’ established captive management operations in Bermuda and the US, Davies launched a new captive management facility in Guernsey.
