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.”