Davies, the leading specialist professional services and technology firm, has announced a significant move in to the insurance legal services sector, with Keoghs, the insurance-focused, top-50 law firm, set to join the group.
Davies delivers operations, consulting and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation, customer experience, human capital, transformation & change management.
Osborne Clarke Partners Jeffrey Chang and Robert Wood and Senior Associate Louise Stuart-Buddery were the lead legal advisers to Davies. They were supported by Partner Mathew Oliver and Associate Emily Clarke on tax matters.
Jeffrey Chang, corporate partner, Osborne Clarke, commented: "This is one of the largest M&A transactions involving a law firm, since the Legal Services Act 2017 permitted non-lawyers to own and manage law firms. We are delighted to have advised Davies."
Keoghs is a leading provider of dispute resolution and risk services for the UK insurance industry across: motor, casualty, complex and specialty classes. The firm manages more than £1bn worth of insurer claims and resolves in excess of 100,000 claims per annum. Keoghs operates a defendant-only model, and works in partnership with leading insurers, MGAs, brokers, corporates and the public sector.
Keoghs will form a new legal solutions arm within Davies, as the business continues to deepen its capability and domain expertise across its global insurance and highly regulated market segments. Keoghs Chief Executive, John Whittle, will continue to lead the business and will join Davies’ Executive Committee, reporting to Davies Chief Executive, Dan Saulter. 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 addition of Keoghs will see Davies’ global team grow to more than 3,700 colleagues, with operating centres across the UK, Ireland, Bermuda, the US and Canada.
The combined business serves more than 500 insurance, highly regulated and global clients. Osborne Clarke's corporate team advises at every stage of development across all corporate areas, from equity and debt fundraising to M&A, IPOs and JVs.