BGC Partners is to buy the independent Lloyds' of London insurance broker, Besso Insurance, which focuses on property, casualty, aviation, marine, professional and financial risks and reinsurance. The deal will see Lloyds become a wholly owned subsidiary of BGCP, with its head office in London.
BGC Partners is to buy the independent Lloyds' of London insurance broker, Besso Insurance, which focuses on property, casualty, aviation, marine, professional and financial risks and reinsurance. BGC is looking to "establish a new vertical" and in the long-term "build a sizable insurance brokerage division within the Company" says President of BGC Partners Shaun D. Lynn.