Underwriting team move: Azur Underwriting

“Although I and my co-founders at Azur are highly experienced in operating FCA authorised businesses and in submitting FCA authorisation applications, the team at Davies Insurance Services, in particular Chris Butcher and Neil Carnaffan, guided us through the process with expertise and, crucially, with the minimum fuss and didn’t overly burden us with information requests; this was crucial to us at a time when we were negotiating the Shareholders’ Agreement with AIG and another institution, establishing the company’s infrastructure from the ground up and performing the TUPE transfer of 20+ staff from AIG. To say we were rather busy addressing a multitude of high priority tasks all with immovable end dates is an understatement! Davies Insurance Services’ proportionate approach to establishing Azur as an AR was much appreciated.”

How we helped

The Azur Group, including Azur Underwriting, was established in 2016 and operated as an Appointed Representative of Davies Insurance Underwriting Services Ltd from the point of TUPE transfer of AIG’s HNW book to Azur, effective 1st September 2016, through to receipt of its own FCA authorisation, effective 2nd October 2017.

We were tasked with facilitating a portfolio transfer into a newly formed entity. We were also required to provide the regulatory framework and operational support to assist in evolving the business into a fully regulated digital Managing General Agency.

The Results

We successfully incorporated a new cover holder entity, to receipt of full regulatory permissions within a 13-month period.

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