Reinsurance News

BGC Insurance reveals name & brand of new global aerospace broker

6th January 2020 - Author: Luke Gallin

BGC Insurance Group, a division of global brokerage and financial technology firm BGC Partners Inc., has now announced the name and brand for its global aerospace insurance and reinsurance brokerage, Piiq Risk Partners.

Piiq Risk PartnersThe inception of the company’s specialist global aviation and aerospace re/insurance brokerage was announced in the summer of 2019, when it was also revealed that JLT’s Marcel Chad will take oversight of the unit as President.

BGC Insurance then announced that Philip Smaje of Willis Towers Watson had joined as Chief Executive Officer (CEO) of the new company, effective January 1st, 2020.

Alongside Chad and Smaje, Bruce Fine has also joined Piiq Risk Partners as Managing Partner US, tasked with leading the global aerospace re/insurance broker’s US team and the aircraft finance solutions division.

Today, BGC Insurance has confirmed the new name and brand of the unit, and, has revealed that to date Piiq has hired 28 individuals in the UK and in the US and that it has significant aspirations to attract more talent into the company in the months ahead.

CEO Smaje commented: “Piiq is a bold and distinct name that matches our desire and ambition for this business. Our platform will provide an important independent and differentiated alternative for clients. We are committed to respecting the past as well as providing modern solutions for our clients. As we begin our journey as Piiq, we will be looking to invigorate the aerospace industry.”

Chad added: “Piiq has a unique opportunity to align the resources of our parent company, which is focused on the use of innovative technology, with an entrepreneurial spirit that puts clients’ outcomes first. We believe that we are the standout firm in the current evolution of the aerospace (re)insurance sector.”

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