Davies announces the acquisition of Thornton Group.
Based in Dublin, Thornton is a leading multi-line claims adjusting and third-party administration (“TPA”) business specialising in property, casualty, energy, marine & engineering and jewellery claims. Operating from three locations across the Republic of Ireland and Northern Ireland, Thornton provides end-to-end claims solutions to Insurers, brokers, MGA’s and corporates.
Davies will bring together its existing Ireland claims businesses with Thornton, creating an unrivalled claims adjusting and TPA capability for its Irish and International insurance clients in Ireland.
Following the deal, Davies senior executive Peter Haran will become CEO of Davies Claims Solutions in Ireland, reporting to UK & Ireland COO, Kath Mainon. Thornton CEO John Eves will take up a new role as Chairman in Ireland and Thornton senior executive Conor Kennedy will head up client relationships and growth in the new role of Chief Commercial Officer in Ireland, reporting to Haran.
The deal with Thornton marks Davies’ seventh acquisition of 2019 and follows Canadian investor AIMCo taking a minority stake in the business earlier in the year, alongside majority investor HGGC, to support Davies’ next phase of international expansion and continued digital transformation. Alongside its claims solutions business, Davies offers its clients a broad range of distribution, technical, consulting and technology solutions to help power their success. Across its global operations, Davies partners with more than 500 insurance, highly regulated and global businesses from its operating bases in the UK, Ireland, Bermuda, the US and Canada.
Dan Saulter, Group CEO of Davies said: “Having gotten to know John and his team over the past few years, I am delighted that we have been able to bring Thornton and Davies together. The Thornton team have an excellent reputation in the Irish market and bring a wealth of specialist skills, knowledge and technical expertise to Davies.”
Peter Haran, CEO of Davies Claims Solutions in Ireland added: “These are exciting times for our business. As we bring our two teams together we can offer a deeper range of specialist skills to our mutual clients, as well as having an exciting and highly compelling story to tell new clients too.”
John Eves, CEO of Thornton Group added: “I am delighted Thornton Group will be joining Davies, and to be part of the exciting plans for the future. The deal will offer our team great opportunities for their personal development and career progression, and we look forward to working with the wider Davies group and continuing to support our loyal clients.”