Strategic Risk Solutions Inc. said Peter Child will join the Concord, Massachusetts-based captive and insurance manager in July as managing director of its newly established operations in Guernsey.
Mr. Child joins from Artex Risk Solutions Inc., the captive and alternative risk transfer solutions unit of Arthur J. Gallagher & Co., where he was previously head of European operations and managing director, Guernsey.
In his new role Mr. Child will develop and oversee SRS’s business in Guernsey as managing director of SRS Guernsey Management Ltd., SRS said in a statement Monday.
“While we’ve developed an enduring presence in the U.S. and international captive management sector, we’re now building a strong team in Europe and in the commercial insurance and insurance-linked securities segments,” SRS CEO Brady Young said in the statement.
Research by Captive Review showed that Guernsey-based captive insurers made up more than half of new captive licenses issued in Europe in 2017, Mondaq reported. The research found that nine captive insurers domiciled in Guernsey in 2017 with the island accounted for 38% of the European captive insurance market. The research also found that 31 captive insurance licenses were surrendered across Europe due to mergers and acquisitions.