Davies, the specialist insurance services provider, has announced the appointment of James Ferris as chief executive officer of its captive management division, effective July 1. Ferris will be based in Bermuda and succeeds long-serving CEO Nick Frost, who has been named chairman.
Ferris brings extensive experience in insurance advisory and risk management, having most recently served as CEO of capital and risk advisory at BMS in Bermuda. Prior to that, he spent over two decades at PwC, where he was the lead partner for the firm’s advisory practice in Bermuda. His background spans risk consulting, capital optimisation, and regulatory advisory for global insurance groups.
In his new role, Ferris will lead Davies’ global captive management operations, with a focus on strengthening service capabilities and driving operational growth across the business.
Outgoing CEO Nick Frost transitions to chairman after 14 years at the helm. In his new role, he will support the strategic development of the business, with a particular focus on US-based captive owners. During his tenure, Frost played a key role in integrating several captive management businesses into Davies, including the 2023 acquisition of Ortac Underwriting Agency’s insurance management operations, which significantly expanded Davies’ Bermuda footprint.
Bermuda remains a strategic centre for Davies’ captive management activities. In 2024, the Bermuda Monetary Authority (BMA) licensed 10 new captive insurers, reinforcing the jurisdiction’s continued growth and importance in the global captive insurance landscape.
