Davies has acquired Asta, a leading third-party managing agent at Lloyd’s providing solutions to businesses across the insurance lifecycle.
This includes formalisation of the syndicate start-up processes through to the development of the Lloyd’s syndicate-in-a-box framework.
The acquisition of London-based Asta will expand Davies’ global insurance services practice, particularly in terms of offering end-to-end insurance management solutions to captives, intermediaries, syndicates, insurers, reinsurers and insurtech businesses.
This follows Davies’ recent diversification of global insurance services to include audit, subrogation management and insurance-focused actuarial consulting, alongside its existing management capabilities for captives, brokers and managing general agents.
Under the terms of the acquisition, Julian Tighe and Simon Norton, CEO and chief underwriting officer respectively at Asta, will retain their current position and responsibilities while assisting the expansion of Davies’ insurance practice.
Both will join Davies’ global executive leadership team, while the Asta executive team will invest in Davies to become shareholders.
Dan Saulter, group CEO of Davies, comments: “Asta 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.”
“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.”
Tighe adds: “Davies’ story of growth, investment in people and technology is one that resonated with the team at Asta. 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.”
