Davies Appoints James Ferris as CEO of Captive Management Division
Insurance services specialist Davies has confirmed the appointment of James Ferris as the new chief executive officer of its captive management division, effective July 1, 2025. Ferris will be based in Bermuda and succeeds Nick Frost, who will move into the position of chairman.
Ferris joins Davies from BMS, where he served as CEO of capital and risk advisory in Bermuda. Prior to that, he spent over 20 years at PwC, ultimately serving as lead partner of the advisory team in Bermuda. His experience spans risk consulting, capital optimization, and regulatory advisory for insurance groups.
In his new role, Ferris will oversee Davies’ global captives team and develop the business’s services and operational capabilities. His predecessor, Frost, has served as CEO of the captive management business for 14 years and will now step into an ambassadorial role as chairman, focusing on supporting US-based captive owners.
Frost previously oversaw Davies’ integration of multiple captive management operations, including the 2023 acquisition of Ortac Underwriting Agency’s insurance management services. This acquisition expanded Davies’ client base and added depth to its Bermuda presence.
The leadership changes support Davies’ goal of expanding into new global domiciles in response to increased demand for international captive services. This follows the earlier launch of a captive management facility in Guernsey in 2021, designed to create a center of excellence for the UK and European markets. Bermuda remains a core hub for Davies’ captive business, with the Bermuda Monetary Authority issuing licenses to 10 new captive insurers in 2024, continuing a trend of growth in the jurisdiction.
Steven Crabb, CEO of Davies’ Insurance Solutions segment, stated that Ferris’ appointment supports the business’s growth plans in the captive management space. “James’ extensive experience within the industry will bring new developments, and we look forward to seeing his future contributions. The move of Nick Frost to Chairman is a pivotal internal change to consolidate team strengths and maintain the tremendous progress Nick has made over the last five years,” Crabb said.
