A veteran of Bermuda’s captive insurance industry has joined US-based MSL Captive Solutions Inc as chief financial officer.

David Sykes was most recently managing director of Strategic Risk Solutions Bermuda, where he led the insurance management operations for SRS for more than a decade before relocating to the United States.

Mr Sykes has more than 30 years of experience in financial management for a range of insurance entities, including captives, commercial reinsurers, and service companies.

His extensive experience includes managing the accounting and reporting requirements for many group captive programmes underwriting both employee benefits and property and casualty risk.

Mr Sykes said: “I am excited to be joining MSLCS at this stage of the company’s growth. I have been impressed by the company’s development to date and the future opportunities as captives become a more established funding mechanism for medical stop loss.

“Joining MSLCS allows me to focus my prior captive experience on this sector and develop best-in-class servicing processes to support our captive programmes.”