LONDON, UK – 18 July 2022 – Davies, the leading specialist professional services and technology business serving insurance and highly regulated markets, today announces that it has completed its acquisition of Asta Capital (“Asta”), the market-leading third-party managing agent at Lloyd’s, following approval by regulators including Lloyd’s, the UK’s Financial Conduct and Prudential Regulation Authorities, and the Dubai Financial Services Authority.
The deal adds significant strength and reach to Davies’ global insurance services practice by broadening its ability to offer end-to-end insurance management solutions to entrepreneurial underwriters and MGAs, intermediaries, (re)insurers and captives, Lloyd’s syndicates, and InsurTechs.
Based in London, UK, Asta is a driver of innovation in Lloyd’s and the London market. It formalised the syndicate start-up process and developed the syndicate-in-a-box (SIAB) framework with Lloyd’s. Asta is the premier choice for potential Lloyd’s market entrants, whether through a full syndicate, SIAB, Special Purpose Arrangement, or captive. The firm manages 16 syndicates (including five SIABs), four MGAs, and manages a gross premium in excess of £1.5 billion.