Brown & Brown agrees to sell four TPAs to Davies

Brown & Brown Inc. announced Tuesday it has agreed to sell four third-party administrator companies to London-based claims management company Davies Group Ltd.

Terms of the deal, set to close in December, were not disclosed.

The companies to be acquired by Davies are: American Claims Management Inc.; Preferred Governmental Claims Services, a claims management business specializing in Florida public entities; USIS Inc., a supplier of managed care services and a TPA for workers compensation and liability claims; and ICA LP, an independent property adjusting company.

All 600 employees at the four companies will join Davies, Brown & Brown said in a statement.

The broker also said it is establishing a long-term commercial relationship with Davies to enhance brokerage and programs operations.