James Ferris is the new chief executive of Davies global captive management business, marking a change in strategy.

Davies wants to expand its global captive offering and strengthen its support for international clients.

The executive takes over from Nick Frost, who transitions to chairman at the specialist professional services and technology company.

“I am honoured to be stepping in after Nick Frost who has curated and developed the team over the past 14 years,” Mr Ferris said.

Mr Ferris was previously chief executive of capital and risk advisory in Bermuda at BMS.

The hope is that Mr Ferris will broaden the services Davies provides and enhance its position in the captive space.

As the new chairman, Mr Frost will continue to support its American captive client base and contribute to its international growth plans.

Steven Crabb, chief executive of insurance solutions at Davies, said Mr Ferris’s extensive experience within the industry would bring new developments.

“We look forward to seeing his future contributions,” Mr Crabb said.

Mr Ferris anticipated broadening what Davies offered to the market, building on the core strengths in the team.