Strategic Risk Solutions Announces Succession Plans in Barbados

Bridgetown, Barbados, March 9, 2020

Strategic Risk Solutions (“SRS”), a provider of insurance management and consulting services announced today that Kirk Cyrus will succeed Chris Evans as head of its Barbados operations. SRS entered the Barbados insurance management market in November 2017 with the acquisition of CGE Group, a leading independent insurance manager formed by CEO, Chris Evans.  With this change, Mr. Evans will become Chairman of the Barbados operations which will involve more of an advisory role to the company and clients.

Kirk Cyrus will join the firm as Managing Director of SRS Barbados effective May 1, 2020. He has served as Director and Executive Vice President of JLT Insurance Management (Barbados) for the past twelve years and has over twenty years’ experience in the captive and insurance management industry in Barbados. “We are excited to welcome someone of Kirk’s experience to SRS and lead the next chapter of our development in Barbados”, said Ron Sulisz, President of Strategic Risk Solutions International which includes the company’s operations in Barbados, Bermuda and Cayman. “The recent changes in the insurance legislation, the regulatory infrastructure and efficient cost structure put Barbados in an excellent position for growth. We are looking to be an active participant in that growth in the traditional North America markets as well as Latin America”, added Sulisz.

“I have tremendous respect for the business that Chris has built and am honored to take over the responsibility for continuing to deliver the highest level of management services to SRS clients in Barbados”, said Kirk Cyrus. “I also know SRS well as a competitor and am aware of the opportunities that exist for a strong independent captive manager. I am looking forward to working with my new colleagues to grow our business in Barbados and the domicile in general”, he added.

“I have been very pleased with life under SRS. The transition has been easy with no disruption to our existing procedures, as SRS has a strong customer focus that has allowed us to maintain and enhance the services provided to our Barbados clients.  It has also offered many additional resources and support for staff”, said Chris Evans. “The final step in securing the long-term future of the business was my own succession plan and I’m happy that Kirk has decided to join. It puts SRS Barbados in very capable hands to continue to provide a strong independent management option in Barbados’, he added.

Brady Young, CEO of SRS, commented, “In welcoming Kirk to SRS, I also want to acknowledge the contribution that Chris has made to not only our Barbados operation but to Barbados as a domicile. Over a 30 year career in the industry, Chris has helped Barbados grow into a leading domicile, built a successful captive management business and been at the forefront of many of the developments in the industry including the recent revision to the captive legislation. We are committed to Barbados as a domicile and with Kirk’s arrival are excited about the prospects for the continued development of SRS Barbados”.

About Strategic Risk Solutions (SRS) www.strategicrisks.com

SRS is the 5th largest captive management firm in the world and the leading independently owned manager. The company has representation in all US captive domiciles, Barbados, Bermuda, Cayman and Europe. It provides financial reporting, regulatory compliance and program management services to a wide variety of single parent, group and other insurance companies.