Professional services and technology firm Davies has acquired US-based insurance actuarial consulting firm Merlinos & Associates to strengthen its global insurance services offering.
Merlinos administers compliance, risk management and wider actuarial consulting services to the property, casualty, life and health insurance markets in the US.
The acquisition follows Davies’ diversification of its global insurance services capabilities to provide audit, subrogation management and insurance-focused actuarial consulting for clients. For example, in September Davies acquired Asta, a third-party managing agent at Lloyd’s.
This is alongside Davies’ existing offering of insurance management solutions for captives, managing general agents and brokers across the risk and insurance value chain, such as claims, underwriting, distribution, regulation and digital transformation.
Under the acquisition agreement, Merlinos will form part of Davies’ global insurance services business, led by CEO Steven Crabb, while the current management will report to Robert Dewen, Davies’ insurance services US CEO.
Commenting on the acquisition, Dan Saulter, group CEO of Davies, says: “Merlinos is a fantastic fit for us, bringing a wealth of experience serving the insurance market with a diverse outlook and international client base of insurers, public entities, captives and self-insured entities.”
“The expansion of our operations across North America with additional and new high value services capability continues to be an important strategy for Davies. It significantly enhances our existing actuarial services capability and will accelerate growth in this high value service space,” Saulter continues.
Paul Merlino, president of Merlinos, adds: “We are delighted to be joining forces with Davies and to contribute to the success of its growth strategy in North America. We look forward to working with the wider Davies team to continue our client-centric focus and offer expanded insurance services and related state of the art technology investments from the broader Davies group.”
