broker

Insurance and reinsurance broker Ed Broking Group is set to have a new Chief Executive Officer for London in Andrew Draycott, once the firm’s acquisition by BGC Partners is completed, as current Group CEO Steve Hearn moves up to lead the BGC Partners insurance division.

Interesting mergers & acquisitions (M&A) news this morning as insurance and reinsurance broker Ed Broking Group announced that it is being acquired by financial broking and technology house BGC Partners.

The insurance and reinsurance broker landscape is set to shrink further, as one of the top players Marsh & McLennan Companies, Inc. has agreed to acquire Jardine Lloyd Thompson Group plc for a cash consideration of $5.6 billion.

Reinsurance brokerage Guy Carpenter has announced the promotion of its Bermuda Head of Retrocession broking John Fletcher to become the new Chairman of its island operations, as well as the hiring of James Morris as SVP, who joins the broker from Aon Bermuda.

Dominic Christian, the executive at insurance and reinsurance broker Aon who had a significant role in the merging of Aon Re and Benfield to become Aon Benfield, is to take on the role of Global Chairman at the reinsurance brokerage.

Beach & Associates, the specialist insurance and reinsurance broker which often arranges trades with collateralized and ILS fund markets, is to be acquired by retail insurance agency network Acrisure LLC who will buyout existing shareholders including private equity fund manager Aquiline.

Reinsurance brokerage JLT Re has announced the addition of a new Partner in its Bermuda office. Nicolas Bardon joins the firm with a reinsurance, banking and finance background and will work closely with the JLT Re industry loss warranty (ILW) broking team.

Aon Benfield, reinsurance broking and capital advisory arm of Aon plc, has appointed Jeremy Goodman as Global Head of Broking Strategies, a role that will see him working to ensure that Aon client needs are matched with the right form of capital.

Consolidation is once again in the news as it is announced that insurance and reinsurance broker Willis Group is to merge with global professional services firm Towers Watson, to create an $18 billion broking, advisory and professional services giant.

Steve Hearn, Deputy CEO at insurance and reinsurance broker Willis Group Holdings, is leaving the broker to move to competitor Cooper Gay Swett & Crawford to take up the Group CEO role in November of this year.