Davies Consulting (Bermuda) will provide insurance operations and consultancy solutions for insurance intermediaries and (re)insurers
Image: Davies seeks to boost its operations with the launch of new business. Photo: courtesy of Steve Buissinne from Pixabay.
UK-based insurance services provider Davies Consulting has launched a compliance and regulatory consulting business in Bermuda.
Davies expects the Bermuda operation to complement and mirror its established operations in the UK and its team in the Lloyd’s, London and International insurance markets.
Davies Consulting (Bermuda) will provide insurance operations and consultancy solutions for insurance intermediaries and (re)insurers with operations in Bermuda, the UK and globally.
Davies Consulting insurance services CEO Steven Crabb said: “We are delighted to announce the launch of Davies Consulting (Bermuda) which will extend the value proposition of our compliance consultancy and outsourced services to insurance intermediaries, (re)insurers and their Bermuda operations.
“We are seeing an increasing demand from our clients for compliance expertise to help them navigate changing regulatory environments in the UK, Bermuda and the US.
“Davies has a well-established presence in Bermuda in leading captive management provider Quest headed by Nick Frost.
“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 consulting solutions to our clients across our wider business.”
Davies to deliver advisory and operations support for businesses
Davies said that it will deliver advisory and operations support for businesses that seek to enter the UK insurance intermediary regulatory environment.
The British insurance firm’s team, which has expertise in the UK regulatory regime of insurance intermediaries, will advise on Financial Conduct Authority regulation and associated compliance requirements for firms seeking to establish an insurance intermediary in the UK.
In addition to Insurance Services business, Davies offers a range of distribution, technical, consulting and technology solutions to its clients. It partners with more than 500 insurance and global businesses from its operating bases in the UK, Ireland, Bermuda, the US and Canada.
Earlier this year, Davies Group has closed the acquisition of TopMark Claims Management (TMS), a claims service provider based in Glasgow, for an undisclosed price.