Insurance coverage options supplier Davies has secured approval from the Belgian Monetary Providers and Markets Authority (FSMA) to launch its European broking operations.
Based mostly in Brussels, Davies Broking Europe (DBE) will serve brokers throughout the EEA.
DBE is poised to develop into an authorised Lloyd’s dealer.
Moreover, DBE’s UK department will allow UK dealer shoppers to broaden their attain into Europe by way of a warehousing answer.
This new enterprise operation will supply an alternate for dealing with Lloyd’s Managing Brokers’ inner dealer and repair firm Bureau processing, which is linked to Lloyd’s Insurance coverage Firm (LIC).
Moreover, DBE will supply non-Lloyd’s Bureau processing primarily to assist London Market Carriers underwriting enterprise within the EEA.
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Davies said that DBE will function a “strategic companion” to assist EEA presence for Lloyd’s in addition to non-Lloyd’s enterprise, working because the EU putting dealer.
Leveraging Davies’ expertise, DBE will perform as an outsourced service supplier, below its personal EEA authorisation or by way of shoppers’ permissions, offering experience and the required scalable assist for facilitating back-office operations.
DBE director and Middleman & Market Providers CEO Matt Lane stated: “DBE extends our UK dealer incubation platform for shoppers aiming to develop and set up infrastructure in Europe by way of Brussels.
“Long run, our purpose is to work with shoppers who’re eager to realize their very own authorisation in Europe by way of the fast-growing Brussels insurance coverage and reinsurance centre.”
Davies affords skilled providers and expertise options throughout the chance and insurance coverage worth chain, with its 8,000-plus workforce working throughout greater than 40 international locations.
The corporate caters to greater than 1,500 shoppers throughout numerous domains together with insurance coverage, public sector and monetary providers.
In February 2024, Davies acquired worldwide forensic accounting firm MDD, strengthening its World Options division.
