Davies Broking Europe (DBE) has received regulatory approval from the Belgian Financial Services and Markets Authority for its European broking operation.
Based in Brussels, the operation aims to partner with brokers in the European Economic Area (EEA).
The firm is also set to become an authorised Lloyd’s broker.
Its UK branch will allow existing and future UK broker clients the ability to expand their business into Europe via a warehousing solution.
Matt Lane, a director of DBE and CEO of Intermediary and Market Services, explains: “DBE extends the UK broker incubation platform for clients aiming to grow and establish infrastructure in Europe through Brussels.
“In the longer term, our aim is to work with clients who are keen to achieve their own authorisation in Europe through the fast-growing Brussels insurance and reinsurance centre.”
The company will provide an alternative for handling Lloyd’s managing agents and working with service companies, which provide bureau processing related to Lloyd’s insurance company.
It will also supply non-Lloyd’s bureau processing for London-market carriers underwriting EEA business.
Steven Goate, a director of DBE, states: “Our aim is to open new markets for our established and future clients to enable entrepreneurial businesses to deliver innovative solutions in an ever-changing landscape.
“The EEA is a significant and attractive market for UK and international businesses and the formation of DBE provides a creative and flexible way to access the market quickly, efficiently and cost-effectively for businesses of all sizes.”
