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Strategic Risk Solutions Inc. on Tuesday said it is launching Strategic Risk Solutions Europe in Dublin to serve U.S. and European multinational captive insurance owners operating in Europe.
Stuart King is joining SRS Europe as managing director and co-founder, the Concord, Massachusetts-based captive manager said in a statement.
Based in London, he will initially lead and oversee the firm's operations in the startup phase, then lead the risk consulting business, focusing on providing multinational risk finance advisory services and identifying insurtech opportunities.
Mr. King most recently worked at Renevatio Ltd., a London-based privately held advisory firm that he founded in 2013. He also has held risk finance advisory and insurance and captive management positions at Aon Risk Solutions and at Marsh & McLennan Cos. Inc., according to the statement.
Mr. King is also a co-founder of the Blockchain Association of Ireland.
“SRS has been evaluating expansion to the European market for a while and we are delighted to have partnered with Stuart,” Brady Young, CEO of Strategic Risk Solutions, said in the statement.
“It’s an exciting time in our industry," Mr. King said. “There’s a gap in the market for an independent advisory firm. Brady’s firm is a very fine, client-focused captive manager, and it just seems to be the right time for everybody.”
SRS is the world’s fourth-largest captive manager, according to Business Insurance’s latest ranking.
After creating the first shipping captive insurance company in China, Cosco Shipping Corporation has inked its first policy with Cosco Shipping Insurance Co. Ltd., Splash 24/7 reported. Cosco Shipping Corp. created the captive as it felt it would have a better understanding of the group’s insurance needs and enable the group to better manage the risks arising from shipping operations.