Ed, the global reinsurance, wholesale and specialty broker, has received regulatory approval from the Bermuda Monetary Authority for its new operation in Bermuda.
Ed Bermuda will provide its full range of multiline broking services, backed by the advanced application of technology through TradEd, its proprietary trading platform.
Opening in Bermuda underpins Ed’s commitment to existing and potential clients, particularly in the US, Canada, and the Caribbean, and will form an important component of parent BGC Insurance Group’s global insurance services offering.
Bermuda Premier, the Hon. E. David Burt MP, said, “The arrival of Ed Broking in Bermuda is testament to the island’s continued draw as a (re) insurance hub, with an ideal location to serve key markets, as well as a regulatory regime that favours agile businesses. We welcome a significant independent broker that combines both talent and technology, to help us build opportunities for the island’s economy and people.”
Chris Bonard, Chief Executive of Ed in Bermuda, said, “I am very pleased to receive this approval, which allows us to begin operations in Hamilton. Bermuda is an important and exciting global marketplace, but it has been dominated by a few big brokers. Using innovative technology, we intend to become a significant independent player on the island and can now begin to assemble a top-flight team of professionals. They will provide clients world-wide with an alternative, credible independent entry point to Bermuda, and will bring new business to the many high-quality risk carriers here.”
Notes to editors
Ed is a truly global insurance and reinsurance provider with offices in the world’s key regional and global insurance centres. A leading Lloyd’s broker, it employs some of the best and most experienced people in the industry with expertise in all major lines of business. Ed is thoroughly independent and committed to being so.
Peter Rigby, Haggie Partners
020 7562 4444
About BGC Insurance Group
BGC Insurance Group is building a market-defining, global risk distribution group. Completely independent, it provides expertise, efficient technology, and customer focus. Under its specialist brands – Ed, Besso, Junge and Cooper Gay France – the Group provides global wholesale specialty insurance and reinsurance broking solutions. The Group’s underwriting operations – Epsilon, Globe Underwriting and Cooper Gay France – provide specialist insurance products and services in the UK, France and Australia. BGC Insurance Group is the insurance division of BGC Partners, a leading global brokerage and financial technology company.
Peter Rigby, Haggie Partners
020 7562 4444
About BGC Partners, Inc.
BGC Partners is a leading global brokerage and financial technology company. BGC’s offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc. and/or its affiliates.
BGC’s customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC’s Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com. You can also follow BGC at https://twitter.com/bgcpartners, https://www.linkedin.com/company/bgc-partners and/or http://ir.bgcpartners.com/Investors/default.aspx.
Discussion of Forward-Looking Statements about BGC
Statements in this document or the abovementioned webcast and presentation regarding BGC that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Statements set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Statements contained in subsequent Forms 10-K, Forms 10-Q or Forms 8-K.
Ujjal Basu Roy