28 September 2023News

Perez start-up to buy compliance consultant

Insurance start-up Nascent Group has agreed to buy Bermuda Compliance Consultants, saying compliance is “becoming a more pertinent aspect of our industry”.

Terms were not disclosed for the purchase, which is expected to close in the fourth quarter. BCCL will be rebranded as Nascent Advisory Services Ltd.

Nascent, founded by insurance linked securities pioneer Andre Perez, said BCCL was founded and headquartered in Bermuda and was founded by managing director Alison Morrison.

Nascent Group consists of an independent insurance manager, a reinsurance transformer, and a general advisor dedicated to both the insurance-linked securities and traditional reinsurance markets.

"BCCL brings to Nascent Group deep market expertise and service offerings on the compliance side – an important business segment for the group – which will enhance the value we deliver to our clients," said Perez. "I would like to extend a warm welcome to Alison on behalf of our growing global team.

"Alison shares our company's philosophy of innovation, teamwork and responsive customer service. Together, we have the opportunity to provide a more robust framework in the delivery of our services especially with compliance becoming a more pertinent aspect of our industry."

Morrison said: "I am excited to join forces with Nascent Group. Being part of a growing organisation will give us the opportunity to access more resources and accelerate the development of compliance and advisory solutions and products.

“The transition will be seamless to my clients and will provide expanded service offerings in the future”.

Morrison has worked as a part of multinational firms and banks, and has extensive experience in anti-money laundering (AML) regulations, risk management, policy development, corporate governance, training and operational compliance.

Nascent Group Andre Perez Alison Morrison insurance linked securities reinsurance Bermuda compliance