Davies has named Richard Barke (pictured above) as chief executive officer of its Insurance Solutions division.
Barke, who previously served as chief financial officer at Davies-owned Asta, has more than two decades of industry experience, including leadership roles at Asta, Aspen, and KPMG.
In his new position, Barke will oversee the division’s operations and lead the development of its growth strategy. He will work closely with Davies’ global leadership team to support the company’s ongoing investment in technology and innovation.
The Insurance Solutions division works with Lloyd’s syndicates, MGAs, brokers, insurers, reinsurers, and captive owners. Its services include underwriting and broking management, outsourced operations, and risk transfer, as well as support for regulatory, legal, and operational requirements and distribution development.
As part of the leadership changes, Steven Crabb has been appointed deputy chairman of Insurance Solutions. He will focus on driving organic growth within the division, with particular attention to expanding its presence in the US and other markets.
Crabb’s responsibilities will include identifying opportunities for expansion and supporting the team in delivering the company’s strategic objectives.
Mark Grocott, CEO of Global Solutions at Davies, said Barke’s knowledge of the insurance and financial services sectors, along with his experience in complex and changing markets, positions him to lead the division’s next phase of growth.
“His appointment also strengthens our enhanced leadership framework, designed to support strategic delivery and advance client capabilities across the insurance ecosystem,” Grocott said.
The appointment comes shortly after James Ferris was named CEO of the captive management division. Reporting to Barke, Ferris will focus on expanding services for captive owners and increasing the division’s footprint in new jurisdictions.
As part of its long-term Vision 2030 strategy, Davies has set a target to grow annual global revenues to between £2.5 billion and £3 billion over the next five years. To support these objectives, the firm secured £275 million in new credit facilities in May to expand investment in generative AI, automation, and global mergers and acquisitions.
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