2020 has already been a hot year for mergers and acquisitions in the insurance sector – most notably yesterday’s Aon and Willis Towers Watson mega deal (which you can read about here) – and today another tie-up has received the regulatory green light.
After initially announcing a deal with insurance law firm Keoghs to launch a legal solutions unit back in January, Davies Group has today revealed it has received the thumbs up from the SRA to bring the law giant into the group.
Keoghs, which specialises in dispute resolution and risk services for the UK insurance industry, manages in excess of £1 billion of insurance claims, resolving more than 100,000 claims each year. As it works in partnership with insurers, brokers, MGAs and corporates, it is no surprise that group chief executive of Davies Dan Saulter is “thrilled” to get the deal across the line.
“Many of our insurance clients are seeking to work with fewer strategic partners, and to build long term relationships across a range of services to support their growth and delivery,” he said. “We must also continue to invest in technology and innovation. In Keoghs we find a team who share our vision and I look forward to working hard to ensure we deliver.”
The move sees Keoghs chief executive John Whittle head up legal solutions for Davies and join the group executive committee. He and the wider management team at Keoghs will also become shareholders in the enlarged business.
