Davies Group is to move into the insurance legal sector after announcing the acquisition of law firm Keoghs.
The move will see Keoghs form a new legal solutions arm within Davies. Keoghs Chief Executive, John Whittle, will continue to lead the business and will join Davies’ Group Executive Committee, reporting to Davies Group Chief Executive, Dan Saulter (pic). Mr Whittle and the wider Keoghs management team will join Davies and become shareholders in the enlarged business. The deal is subject to customary regulatory approvals and is expected to close during the first quarter of 2020.
The acquisition will see Davies’ global team grow to more than 3,700 staff, with operating centres across the UK, Ireland, Bermuda, the US and Canada.
Since 2015, Davies has increased its annual investments in innovation and digital transformation more than four-fold, including in its CQ claims processing platform, its video and drone claims handling solutions, as well as investing in automation, speech analytics and virtual reality training solutions.
Mr Saulter said: “Keoghs and Davies were both founded in 1968 and have proudly served the insurance market and our clients for more than 50 years. Both firms have a big focus on values, culture and employee success. At Davies we place considerable value on disruptive thinking and new ideas. Keoghs has made investments in R&D and innovation in the past five years, not least in its core case management system and client-facing solutions, particularly ‘Lauri’, the legal-AI platform, and ‘ADA’, the fraud detection solution.”
He added: “To compete and win in an increasingly integrated global insurance market, it is essential that we can offer our clients valuable solutions right across the insurance, claims and risk value chain. The addition of Keoghs 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.”