What happens when a global broker network decides to fill a gap in the London market itself?
Assurex Global is a worldwide network of over 100 independent brokers, placing around $50bn of premium. Partners in the network pump about $4bn of premium into the London market, and according to CEO and president Dean Hildebrandt, the ongoing consolidation in the London wholesale space had created a “void”.
This is why Assurex has opted to create its own London wholesaler, AG London, the subject of the latest episode of Behind the Headlines.
AG London president Will Ripley explained that AG London’s model means it won’t be competing with its distribution partners in domestic markets—an advantage in the current climate.
And in our news digest, Insurance Insider reporter Abbie Day explains why trade credit insurers are flooding into Lloyd’s.