London-Based Broker Costero Holdings Acquires Mar Risk Services

March 4, 2021

Costero Holdings, a privately held London-based brokerage, has acquired the independent broker Mar Risk Services Ltd. (MarRS), effective March 1, 2021.

Headquartered in London, MarRS offers insurance advice and access to leading insurance providers both in Lloyd’s and international markets. The company provides niche and bespoke services including risk management, placement and a 24/7 claims service.

Clive Freeman, MarRS CEO, and his team have all joined Costero’s operation, expanding the broker’s expertise in the fields of insurance, reinsurance and claims handling. Freeman will continue with Costero as non-executive director while Stuart Freeman and Seema Pandey will continue to head their respective divisions of energy and marine. James Wright will be head of claims, and Meg Williamson will coordinate with the Costero accounts division, focusing on the energy and marine customers.

Other members of the MarRs team — Jack Nicholson, Michael Pomroy, Matthew Martin and William Freeman — will support the broking and production of marine, cargo, liabilities and energy, both onshore and offshore, plus renewables.

“We are pleased to welcome the team from Mar Risk. Their deep subject matter expertise in the fields of marine and energy will add further to the strength of the Costero team,” said Nick Murrell, executive vice president of Costero Holdings. “We look forward to partnering with their existing global client base and providing new solutions across the combined group.”

“We are very excited about the new opportunities and additional products that we will be able to offer our clients with a continued emphasis on cost, coverage and most importantly, claims service,” said Freeman.

About Costero Holdings

Costero Holdings, formed in 2017, initially focused on property and professional lines. Costero Holdings is now a multi-class focused Lloyd’s of London broker and is looking to expand into additional specialist areas with the hiring of individuals and teams.

Source: Costero Holdings

Topics Mergers Agencies London

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