Falcon Insurance PCC Limited, a Guernsey-based self-managed protected cell company has announced that following Davies’ acquisition of the captive and cell captive business of Ortac Underwriting Agency Limited, Davies has been appointed to provide the continuation of insurance services to Falcon.
Through this appointment, Davies will not only provide administrative services to Falcon, but the company will also promote Falcon as its preferred cell captive solution in Guernsey.
Currently, Falcon has cells operating in the fields of physical damage and consequential loss, vehicle warranty schemes, medical insurance, professional indemnity, as well as general marine and non-marine exposures.
Moreover, Falcon will look to further expand its portfolio in conjunction with the added resources that Davies, as a global captive management group will deliver.
Callum Beaton, chairman of Falcon, in welcoming this development, said: “Falcon is pleased to build on its established and continuing relationship with Richard Tee and his colleagues all of whom now become DMSG’s Guernsey team. We enthusiastically welcome the added opportunities which will become available both to Falcon and Davies from these new arrangements.
“As well as our confidence here in Guernsey, we have enjoyed a strong rapport with the Davies team in Bermuda for many years and believe this development for Davies to be a great fit. Falcon looks forward to playing a significant part in this further development of Davies captive services in Europe’s premier captive domicile.”
