Davies acquires Lloyd’s managing agent Asta

Professional services firm Davies has completed its acquisition of Asta , a third-party managing agent at Lloyd’s.

The deal broadens Davies’ ability to offer end-to-end insurance management solutions to underwriters, MGAs, and intermediaries, to name a few.

Based in London, UK, Asta has  formalized the syndicate startup process and developed the syndicate-in-a-box (SIAB) framework with Lloyd’s.

Asta CEO Julian Tighe and Chief Underwriting Officer Simon Norton will retain their existing responsibilities and additionally assist in growing Davies insurance services practice as members of Davies Global Executive Leadership Team. The Asta executive team will invest in Davies, becoming shareholders as the firm embarks on its next phase of investment in digital transformation, innovation, and growth.

In recent years, Davies’ Insurance Services unit has diversified and deepened its global capability to provide: audit, subrogation management, property & casualty insurance inspection and insurance focused actuarial consulting for its 1,200+ insurance and highly regulated clients.

Davies is a global captive manager, supporting more than 250 captive and cell companies. It has launched 60 MGAs and is the Lloyd’s Market Association’s preferred credit-control service provider, managing £17 billion of syndicate earned premium income across the 2020 to 2022 open years. Its binding authority management service has improved coverholder management and performance for several Lloyd’s managing agents, processing more than 65,000 bordereaux annually.

In April 2022 Davies accelerated into the regulatory technology market through the acquisition of Worksmart , a supplier of regulatory technology. Globally, Davies’ 6,000+ colleagues operate across Bermuda, Canada, India, Ireland, Spain, Switzerland, the UK and US. The business delivers professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation & change management.