Insurance services provider Davies has acquired Northshore International Insurance Services for an undisclosed amount.
As part of the deal Northshore, an American-based firm, will join Davies existing insurance services’ business unit, led by CEO Steven Crabb, which provides services to insurers, reinsurers, MGAs and brokers.
Steve Murphy, CEO of Northshore, will continue to lead the business and all Northshore employees will join Davies’ global team.
Dan Saulter, group CEO at Davies, said: “I’m delighted to welcome Steve Murphy, David Ives and the Northshore team to Davies.
“As we head in to 2021 we will continue to invest and push for organic growth in all our core markets, as well as working with like-minded businesses via M&A to ensure we can deliver for our insurance and highly regulated clients.”
Steve Murphy, CEO, Northshore added: “We are extremely pleased that the Northshore team will be joining Davies and will be part of its investment and growth plans in North America. Davies’ story of growth and investment in people and technology is one that resonated with the team at Northshore.
“This acquisition will give our employees more career development opportunities, as well as give them access to employee initiatives such as the Davies Disruptive Thinking innovation lab and their focus on giving back to local communities through The Davies Foundation.”