Specialist professional services and technology business Davies has announced the acquisition of Wakely Actuarial, a Florida-based actuarial consulting firm. Wakely provides a range of compliance, risk management, and actuarial consulting services to the life and health market in the US.
The acquisition will bring new actuarial domain expertise to Davies. As part of the deal, Wakely will be rebranded early next year and will trade as Davies, forming a new actuarial unit in the firm’s global Insurance Services business. Ben Cohen, president of Wakely, will continue to lead the business and will report to Robert Dewen, insurer and market services managing director.
“I’m delighted to be joining forces with Davies, and to play a part in its growth strategy in North America,” Cohen said. “The deal will offer our team great opportunities for their personal development and career progression, and we look forward to working with the wider Davies group to the benefit of our highly valued clients.”
“We are excited to welcome Ben and the whole Wakely team to Davies,” said Dan Saulter, group CEO for Davies. “The business is a fantastic fit for us, bringing a wealth of experience across the insurance market in the US, as well as adding new domain expertise in actuarial solutions to our group. Deepening and diversifying our service offerings is a central part of our growth plans, and we look forward to being able to offer our clients a wider set of insurance services following this deal.”
Davies has more than 4,000 employees across the globe, with operating centers in the US, Canada, UK, Ireland, and Bermuda.