Insurance solutions provider Davies has secured approval from the Belgian Financial Services and Markets Authority (FSMA) to launch its European broking operations.
Based in Brussels, Davies Broking Europe (DBE) will serve brokers within the EEA.
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DBE is poised to become an authorised Lloyd’s broker.
Additionally, DBE’s UK branch will enable UK broker clients to broaden their reach into Europe through a warehousing solution.
This new business operation will offer an alternative for handling Lloyd’s Managing Agents’ internal broker and service company Bureau processing, which is linked to Lloyd’s Insurance Company (LIC).
Besides, DBE will offer non-Lloyd’s Bureau processing mainly to support London Market Carriers underwriting business in the EEA.
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By GlobalDataDavies stated that DBE will serve as a “strategic partner” to support EEA presence for Lloyd’s as well as non-Lloyd’s business, operating as the EU placing broker.
Leveraging Davies’ experience, DBE will function as an outsourced service provider, under its own EEA authorisation or through clients’ permissions, providing expertise and the required scalable support for facilitating back-office operations.
DBE director and Intermediary & Market Services CEO Matt Lane said: “DBE extends our UK broker incubation platform for clients aiming to grow and establish infrastructure in Europe through Brussels.
“Longer term, our aim is to work with clients who are keen to achieve their own authorisation in Europe through the fast-growing Brussels insurance and reinsurance centre.”
Davies offers professional services and technology solutions across the risk and insurance value chain, with its 8,000-plus workforce operating across more than 40 countries.
The company caters to more than 1,500 clients across diverse domains including insurance, public sector and financial services.
In February 2024, Davies acquired international forensic accounting company MDD, strengthening its Global Solutions division.
