The Ardonagh Group is set to launch a new reinsurance broker with ambitions to become a top five global player, called Inver Reinsurance Brokers Limited.
The new brokerage aims to leverage the scale, resources and reach of its parent, attract and empower the best talent in the industry and become a key market player.
Ardonagh says that Inver Re will adopt a consultative, bespoke approach to the core discipline of treaty reinsurance and craft risk strategies to suit individual requirements.
The reinsurance broker will utilise a combination of traditional actuarial methods alongside sophisticated data science to offer new levels of insight and analysis.
The forthcoming launch of Inver Re comes after Ardonagh’s agreement to acquire the insurance operations of BGC Partners for $500 million, comprised of both the Ed and Besso Broking Groups, which were recently grouped together under the brand of Corant Global.
Ardonagh says that Inver Re will draw upon the deep pool of expertise of the combined businesses.
David Ross, Group Chief Executive Officer (CEO), commented on the announcement: “There has never been a better moment to launch an independent reinsurance broker in the market. The collective experience and relationships of the newly enlarged Group, combined with rigorous analytical abilities and global approach will provide insurers with a trusted, independent choice.
“We’re incredibly excited to build a credible alternative in a market where choice and flexibility are increasingly hard to come by. We are committed to building a home for the very best talent in the market and building an offering focused on taking the time to understand every nuance of our clients’ objectives and will ensure their goals are met.
“We look forward to welcoming experienced professionals looking to grow, develop and build their legacies within an entrepreneurial, independent platform, and leveraging the strong foundations and track record of the Group to build a reinsurance business of scale and relevance.”