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Richard Daley will join captive management firm Strategic Risk Solutions Inc. effective Aug. 1.
Mr. Daley has been with JLT Insurance Management (Bermuda) Ltd. for 13 years and has led the firm for the last four years as its president, according to a statement by SRS released on Thursday.
“I am proud of the captive management business we built at JLT and it is difficult to walk away from that,” Mr. Daley said in the statement. “SRS represents a new chapter in my career and an opportunity to work for an independent captive manager focused on delivering top quality captive management services to its clients.”
Mr. Daley will be joining as managing director of Strategic Risk Solutions (Bermuda) Ltd. and will work alongside David Sykes and Andrew Hupman, also managing directors, in the firm’s Hamilton, Bermuda office. Mr. Daley will also join the board of SRS International, which includes SRS’s activities in Bermuda, the Cayman Islands and Barbados.
“Richard is a leading figure in the Bermuda captive insurance industry and we are excited to have him join us,” Brady Young, president and CEO of SRS, said in the statement. “We believe there are opportunities to continue to expand our business in Bermuda and provide a viable high-quality option to the broker-owned managers. Richard will help us take our business to the next level, both in terms of strengthening our local presence and the breadth of the services we provide to our captive clients.”
“He was always a strong adversary as a competitor and we look forward to working with Richard to continue to build our Bermuda business,” Mr. Sykes said in the statement.
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.