Bermudian Clayton Price is relishing the challenge of taking over Marsh's Captive Management operation in the Cayman Islands.

Mr. Price, a senior vice-president at the insurance brokerage company, will oversee a 42-strong team of captive management professionals and staff in his new role.

Having previously been director of client relations for Marsh's Captive Management office in Bermuda, he has also worked in the firm's Casualty Practice and Captive Management divisions in Atlanta and New York.

"In Cayman they have an extensive number of healthcare captives and, in fact, that would be its leading business when it comes to captive operations," Mr. Price said.

"The client services aspect of the job is also always very important, but however you need good people in the team in order to provide good service to your clients and the two go hand-in-hand. I am fortunate to be taking on a very strong office."

And he believes his experience of having worked for Marsh across the world and the contacts he has built up in its various offices will stand him in good stead for the Cayman assignment.

"I think what it will do is, by having my background, be a benefit for the Marsh Cayman staff to have a more cohesive working relationship.

"Working here in Bermuda with Johnson and Higgins (J&H) and then Marsh as well as in Vermont in the US and Halifax in Canada means I have a personal relationship with a number of the heads of offices, which I believe will be of benefit to the operations in Cayman.

"I am very excited about the opportunity and the Cayman operations - like Bermuda, Cayman is at the cement mixers stage in that it has made a lot of progress in regards to development."

Mr. Price, who first got into insurance after successfully completing his MBA with the College of Insurance and joining J&H, which later merged with Marsh, as a summer student at its Bermuda operation working in captive claims administration in 1978, started his career on the brokering side with Marsh in its New York office in 1981.

During his 30-year career in the industry, he has gone on to handle casualty coverage placements for several of the company's largest clients, before becoming a casualty account executive and transferring to Atlanta, where he managed casualty programmes for the office's financial institution clients.

In 1998, he returned back to his homeland to lead a client service team in charge of a diverse portfolio of 150 clients, ranging from healthcare providers to energy companies.