US-based insurance and reinsurance consultancy Navigant Consulting, Inc. has established a unit in Hamilton.

Navigant Consulting (Bermuda) Ltd., a subsidiary of the Chicago-based company, will be based in The Armoury Building in Reid Street.

"The company will offer its full suite of consultancy services to insurance and reinsurance companies, sidecars and captives, including reinsurance advisory services; actuarial services; captive support; claims and run-off management; claims litigation management; underwriting advisory services; merger and acquisition due diligence support; systems consulting; forensic accounting and expert witness testimony," states an announcement by Navigant, realeased yesterday.

Bill Jones, managing director of Navigant Consulting's Insurance and Claims practice said: "Bermuda has now consolidated its position in the world's insurance/reinsurance industry as one of the major markets.

"We are extremely excited to bring our consultancy services into this critical market. Ultimately, the expansion will enable Navigant Consulting to offer consultancy services to both insurers/reinsurers domiciled in Bermuda and to US clients who might have an interest in that market."

Bermudian Stephen Pearce, an experienced insurance and captive management professional, has joined Navigant Consulting (Bermuda) Ltd. as a director.