BGC Insurance (BGCI), the insurance and reinsurance broking, MGA and underwriting units of BGC Partners, has been rebranded as Corant Global.
BGC is a brokerage, advisory and financial technology company, which has been aggregating insurance and reinsurance interests in recent years.
Most relevant of these for our audience are reinsurance and specialty broker Ed, as well as some of the MGA and underwriting activities under the Cooper Gay and Globe.
Corant Global becomes the new name for BGC Insurance (BGCI), consisting of broking operations Ed, Besso, Piiq Risk Partners and Junge and MGAs Cooper Gay, Globe Underwriting and Epsilon.
Each insurance and reinsurance unit will continue to operate under their separate brands, but Corant will become the ultimate holding company and also act as the investment vehicle for any future acquisitions that are made.
Around 900 people work across all the insurance and reinsurance brands that make up Corant, with combined revenues of over $175 million and over $2 billion of insurance premiums placed over the 12 months ended September 30th 2020.
Steve Hearn will continue to lead Corant as its Chief Executive Officer, with Andrew Wallin as President.
Steve Hearn commented on the news, “Through considerable investment, we have established a strong reputation as an expert insurance sector player with industry-changing ambitions.
“We have a multi-channel platform that is packed with market leaders across the group, and we have built a reputation for empowering those talented colleagues to deliver exceptional results for our customers. Over the past few years, the platform has grown rapidly and we have ambitious plans for our future to further capitalise on the many opportunities we see.
“The time is now right for our achievements to be collectively recognised through the launch of a clear and distinctive holding company brand and identity. Corant will be the best home for the best people, and it will drive continued investment across our portfolio of broking, technology, underwriting and advisory businesses.”