Sevitt Group splits into three

Insurance consultant Sevitt Group has split into three companies, Sevitt Consulting, Sevitt Management and Sevitt Technologies.

The group is headed up by Former Setanta Insurance chief executive Mike Matthews, who left the insurer last July after a disagreement with investors.

Sevitt Consulting does feasibility studies on risk funding structures, such as captives, for non-insurance clients as well as finding ways to boost insurer clients’ underwriting profits and reduce operating costs. The consulting side also gives advice to boards.

Sevitt Technologies is a joint venture with CTI Digital, whose chief executive, Nick Rhind, has joined Sevitt Technologies as technical director.

Matthews said: “The industry has to confront a plethora of issues including merger and acquisition activity, consolidation, operational challenges and questions of legacy.

“We see our expanded services as not just helping businesses combat challenges they are facing today, but helping them to future-proof their organisations.”

Matthews said that he expected the group to do a lot of work on business processes management and reporting around the European Union’s Solvency II regulations, due to come into force in 2014.