Price Forbes Bermuda launches captives unit

Price Forbes in Bermuda is launching a captive headed by former Artex Risk Solutions director William Wood.

Wood, who joined the broker in May as senior vice president, previously led Artex’s Bermuda captives, commercial insurance and reinsurance management operations. Before that, he was CEO of Charles Taylor’s captive management business. He was also previously treasurer and controller at Nissan Global Reinsurance Limited.

The launch follows the grant of an insurance managers license by the Bermuda Monetary Authority.

Price Forbes, part of top 20 global broker and the UK’s largest independent broking platform The Ardonagh Group, has 430 employees with offices in Bermuda, Brussels, Chile, Dubai, London, Malaysia and South Africa. Price Forbes & Partners (Bermuda) Ltd was formed in 2008.

President of Price Forbes & Partners (Bermuda) Nick Foden-Pattinson said: “We are delighted to welcome William to build out the insurance management operation for us.  His depth and breadth of experience is just what we need to start a new captive management platform.”