Former Sompo CEO joins UK insurtech REG
Former Sompo Canopius CEO Stuart Davies has joined the board of UK insurtech platform REG as a non-executive director.
Davies is currently the executive chairman of European run-off insurance company DARAG, and a partner at private equity firm Disruptive Capital. His appointment follows Disruptive Capital’s recent £8 million investment in REG UK, which valued the business at some £20 million.
Davies also recently joined a London-based firm serving the insurance industry, Oxbow Partners, as its chairman and non-executive director.
Before his role as CEO of specialty re/insurer Sompo Canopius, Davies was a managing director of Aegis London for 10 years.
"Stuart is a well-known and highly regarded figure in the insurance industry," said Michael Phair, CEO of REG UK. "Appointing someone of his calibre to our Board is testament to how far REG has come. This is an exciting time for REG.
"Following the recent investment by Disruptive Capital Investment Ltd., we are working around the clock to develop a benchmark compliance and due diligence product which we anticipate will be used by every main insurer and wholesale intermediary in the UK. In a period like this, Stuart’s input and advice will be invaluable to us."
Davies added: "REG UK is an exciting insurtech business with a unique offering. Having spent my career leading insurance businesses, I can testify to the ever-growing demands of compliance and due diligence, and the value REG brings by simplifying these processes through its technology and services. I look forward to working with Michael and his team as they continue to develop REG’s offering, expand its client base and move into new markets."
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