Chartis names head of European risk management group

Mr Groves, who joins from Marsh, will focus on managing and growing a portfolio of captive programmes, and on developing new products.

Philippe Gouraud, head of major accounts practice & multinational, Chartis, said: "This is a challenging time for captives with a wide variety of issues which need careful consideration".

"Solvency II is probably at the head of the list in terms of both direct and indirect implications, but there are equivalent regulations in other jurisdictions to be considered as well as challenging topics such as how to handle long-tail liabilities.

"By bringing Jonathan, with his invaluable expertise and experience, into the team we are demonstrating once again our ongoing commitment to the captive arena."

Mr Groves added: "Clients with captives need more help today than at almost any time in the recent past. I am delighted to be joining the leading insurer in the multinational captive risk financing space, and will be looking to focus on a range of regulatory and commercial issues, as well as innovative risk financing solutions."