Ed Broking to Open Bermuda Operation

Ed, the London-based reinsurance, wholesale and specialty broker, announced that it will expand its international footprint by setting up a broking platform in Bermuda.

Once approved by the Bermuda Monetary Authority, the operation will be built and led by Chris Bonard, who is currently president & CEO, Group Production, Ed Broking.

Bonard was part of the executive team that launched Ed into the market in September 2016. He started his career in 1986 at Guy Carpenter, from there he went onto join R K Carvill’s Reinsurance Division and he was appointed to the main board of R K Carvill and Co. Ltd. in early 2003. Bonard left Carvill to join Newman Martin and Buchan (NMB) in August 2005 as the managing director of NMB Specialty. He worked at NMB until March 2018 when he joined Ed Broking, according to his LinkedIn profile.

“Bermuda represents an obvious opportunity for us to better serve our customers for whom the island is an important market,” said Group CEO of Ed Broking Group Steve Hearn, in a statement.

The move comes at an exciting time for Ed Broking, which in October announced that it is to be acquired by BGC Partners, Inc, a global brokerage and financial technology company, subject to regulatory approval, said Ed.

Bonard will report into Hearn, who will become head of the new BGC insurance division on completion of Ed’s acquisition by BGC.

“With a business that already spans key markets in Asia-Pacific, the Middle East and Europe, we’ve been keen to further enhance our commitment to the North American market,” commented Bonard. “I look forward to the opportunity to shape our strategy in Bermuda, deepen my existing relationships with clients in the U.S., Canada and the Caribbean – and to seek out fresh ones.”

Source: Ed Broking Group

Related:

• Draycott Named CEO of Ed Broking in Preparation for BGC Partners’ Purchase
• UK’s Ed Broking to Be Acquired by BGC Partners