Davies acquires Massachusetts-based 3rd-party administrator

Davies Group Ltd. acquired Massachusetts-based disability claims and insurance services third-party administrator Disability Management Services Inc.

Financial terms of the transaction were not disclosed.

The acquired entity provides claims, policy administration and consulting services to the disability insurance market. Disability Management COO Steve Miller will replace CEO and founder Bob Bonsall, who will retire upon completion of the transaction.

The acquisition expands Davies' offering into the life and health insurance space.