"It’s a superb outcome for all Asta stakeholders."
Davies currently delivers professional services and technology solutions across the risk and insurance value chain, including claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation, and change management.
Asta Capital is a driver of innovation in Lloyd’s and the London market. It has become a premier choice for potential Lloyd’s market entrants, whether through a full syndicate, SIAB, Special Purpose Arrangement or captive.
This deal adds significant strength and reach to Davies’ global insurance services practice, allowing the company to broaden its ability to offer end-to-end insurance management solutions to entrepreneurial underwriters and MGAs, (re)insurers and captives, Lloyd’s syndicates, and InsurTechs.
Asta CEO Julian Tighe and Chief Underwriting Officer Simon Norton will retain their existing responsibilities as well as assist in growing Davies insurance services practice as part of Davies Global Executive Leadership Team.
The Asta executive team will invest in Davies, becoming shareholders as the firm enters a new era of investment in digital transformation, innovation, and growth.
Dan Saulter, Davies Group chief executive has said:
“This is a transformational deal for Davies in Lloyd’s, the London market, and beyond. Uniting Asta’s deep-seated Lloyd’s position with our existing insurance services and complaints management technology, specifically developed for the Lloyd’s market, enables us to take an exciting new message to our clients, extending our global offering with end-to-end support throughout our clients’ lifecycles at Lloyd’s.”
Julian Tighe, Asta Capital chief executive added:
“With almost no overlap in the services of Asta and Davies, and our closely matched cultures of innovation and growth, combining Asta and Davies makes perfect sense. Our existing and prospective clients will benefit from the broad range of technology-led services offered by Davies and Asta employees will benefit from much-extended opportunities and initiatives.”