TMS sold to Davies Group

Davies Group has acquired Glasgow-based property and casualty public sector claims specialist Top Mark Claims Management Limited (trading as TMS), in a deal advised by Initium.

Davies Group said TMS will become the founder member of its new Davies Public Sector division within the Davies Claims Solutions business. Managing Director Stephanie Staubach will continue to lead TMS, reporting to Lesley Johnson, Managing Director of Davies Casualty.

Following the deal, Davies will employ a team of more than 1,700 professionals delivering core operations, digital solutions and consulting to more than 400 insurance, highly regulated and global businesses, from its command centres across the UK, Ireland, Bermuda and North America.