Davies, the leading specialist professional services and technology business, serving the insurance and wider highly regulated markets, today announces the launch of a new captive management facility in Guernsey following regulatory approval from the Guernsey Financial Services Commission. Davies Management Services (Guernsey) will deliver a full captive management capability including feasibility studies, incorporation services, program structure advice
and exit solutions.
The Guernsey operation will broaden Davies’ established Captive Management operations in Bermuda and the US, enhancing the firm’s service proposition to clients around the globe. In June 2020, Davies added significant scale and reach to its established captive management services through the acquisition of the captive management & consulting businesses of insurance and reinsurance specialist Citadel Risk, based in the US and Bermuda. In December 2020, Davies also completed the acquisition of Wakely Actuarial, a specialist actuary and consulting business based in Florida.
Davies` captive management operations sits within the firm’s Insurances Services division led by CEO Steven Crabb. In addition to captive management, it provides incubation solutions, delegated authority administration, legacy management, credit control and audit, to insurers, reinsurers, MGAs and brokers
across the global insurance market. Globally, Davies has more than 4,000 colleagues, with operating centres across the UK, Ireland, Bermuda, the US and Canada. The business delivers professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation & change management.
Nick Frost, President of Davies Captive Management commented: “We are delighted to announce the launch of a new captive management facility in Guernsey, which alongside our existing operations in Bermuda and the US will enable us to further enhance our service proposition to clients around the globe. Guernsey is Europe’s leading captive centre with a robust regulatory environment and is benefitting from the rising demand for captives.
“Deepening and broadening our capability is an essential part of our strategy to remain both relevant and valuable to our clients, and we look forward to being able to offer a deeper range of captive solutions to our clients across our wider business.”