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Davies Group tells growth story in 2019 financials

Davies Group tells growth story in 2019 financials | Insurance Business

Davies Group tells growth story in 2019 financials

It looks like Davies Group is getting its money’s worth, and more, as the London-headquartered insurance services provider reveals positive full-year 2019 financials following a series of investment and acquisitions.   

Davies, whose three core platforms – claims solutions, insurance services, and consulting & technology – all grew in the year ended June 30, saw its global workforce jump 57% from 1,006 in 2018 to 1,579 people.

Meanwhile revenue in the period rose 49% to £115.5 million; EBITDA (earnings before interest, tax, depreciation, and amortisation), 54% to £23.7 million. Davies reported adding in excess of 150 new account wins from existing and new clients alike. 

In terms of innovation and digital transformation, the group said its annual investment into this area has increased more than fourfold over the past four years.

Read more: Davies Group continues acquisition spree

Now, to prepare itself for further investment and growth in 2020, Davies has tapped group executive team members to take on new roles in the New Year.

Come January, claims solutions executive chair Darren Coombes will become Davies chief growth officer while claims solutions chief operating officer Kath Mainon will serve as chief executive of the group’s UK & Ireland claims solutions business.    

“These excellent results are a testament to the hard work and dedication of our growing global team of claims, insurance, consulting & technology professionals,” said group CEO Dan Saulter (pictured).

“They have once again delivered for our 500+ insurance, financial services, and global clients. The past year has seen us bring onboard AIMCo as a new investor, allowing us to continue to invest in our people, innovation, and automation across our businesses.”