Ferris to lead Davies captives as Frost becomes chairman

Davies has appointed James Ferris as chief executive of its global captive management business, as Nick Frost steps aside after 14 years in the role to become chairman.

Based in Bermuda, Ferris (pictured) joins from BMS where he was chief executive of capital and risk advisory.

He previously spent more than two decades at PwC, leading the advisory team in Bermuda.

Ferris will take up the CEO post on 1 July, bringing over 25 years of industry experience to a business that Davies said is set to expand into new global domiciles in response to rising client demand.

Steven Crabb, chief executive of insurance solutions at Davies, said: “James will be an exciting addition to our growing global captive management business and reflects our ambitious growth plans.

“The move of Nick Frost to chairman is a pivotal internal change to consolidate team strengths and maintain the tremendous progress Nick has made over the last five years.”

Under Frost’s leadership, Davies has grown its presence in captive and alternative risk management, particularly for US clients, and responded to new risks and market challenges.

Frost said: “My time spent as CEO of captive management has been incredibly rewarding and being able to work with the team has been a privilege. I look forward to seeing developments under James’ leadership.”

Ferris added: “I’m delighted to be moving into the role in such a critical landscape of the reinsurance industry, and I’m looking forward to broadening the Davies offering to the market, building on the core strengths in the team. Furthermore, I’m honoured to be stepping in after Nick Frost, who has curated and developed the team over the past 14 years.”