Bermuda Compliance Consultants Ltd will be rebranded as Nascent Advisory Services Ltd when it merges with the Nascent Group.

The Nascent Group has signed an agreement to acquire BCCL, a deal which is expected to close in the fourth quarter of this year.

Founded and headquartered in Bermuda, BCCL provides compliance advisory services to the insurance and fund markets.

Nascent Group is an independent and privately owned group of financial services companies forming an independent insurance manager, a reinsurance transformer and a general adviser dedicated to the insurance-linked securities and traditional reinsurance markets.

“BCCL brings to Nascent Group deep market expertise and service offerings on the compliance side, an important business segment for the group which will enhance the value we deliver to our clients,” Nascent Group chief executive Andre Perez said.

Alison Morrison, BCCL founder and managing director, has worked as part of multinational firms and banks, and has extensive experience in anti-money-laundering regulations, risk management, policy development, corporate governance, training and operational compliance.

She said: “Being part of a growing organisation will give us the opportunity to access more resources and accelerate the development of compliance and advisory solutions and products. The transition will be seamless to my clients and will provide expanded service offerings in the future.”

Mr Perez said Ms Morrison shared the Nascent Group’s philosophy of innovation, teamwork and responsive customer service.

“Together we have the opportunity to provide a more robust framework in the delivery of our services, especially with compliance becoming a more pertinent aspect of our industry,” Mr Perez said.