19 August 2016EMEA analysis

CWC hires consultant to improve captive insurance division

Cutts-Watson Consulting Limited (CWC) has brought in Paul Wakefield as a consultant to strengthen its captive insurance team.

The company said that Wakefield will bring in longstanding experience of working in both onshore and offshore environments, most recently as a non-executive director with a London market insurance company.

Wakefield has undertaken numerous feasibility studies and set up insurance subsidiaries for multinational corporations across the globe.

His experience with captives includes overseeing portfolio transfers, novations, redomiciliation of captives, protected cell company formation and the design and implementation of multi-year, multi-line reinsurance programmes.

He also has undertaken various consultancy work on the regulatory side of insurance. Wakefield is an associate of the Chartered Insurance Institute. He is registered and approved as a director with the UK Prudential Regulatory Authority and the Guernsey Financial Services Commission.

“I have always admired the positive dynamics and change leadership that Malcolm, and now collectively the team at Cutts-Watson Consulting, bring to the goal of raising standards in the captive insurance industry,” said Wakefield.

“This is something that mirrors my own viewpoint. I look forward to working with the CWC team to maximise the value that captives generate to their owners and to be part of the exciting consulting projects CWC is currently undertaking.”

Malcolm Cutts-Watson, founder of CWC, said: “We are delighted to have someone of Paul’s stature on board and we all look forward to working with him. We see this as a real positive strengthening of our service proposition offered to our clients and gives us greater bench strength.”