Ed receives regulatory approval and begins operations in Bermuda

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.”

 

Media enquiries
For all media enquiries, please contact Peter Rigby, Caroline Klein or Hannah Stewart at Haggie Partners on +44 (0)20 7562 4444.

About Ed
Ed is owned by BGC Partners Inc. (NASDAQ: BGCP), a leading global brokerage and financial technology company

Discussion of Forward-Looking Statements about BGC
Statements in this document 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 Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.