One of the biggest talking points amongst insurance brokers at Monte Carlo Rendezvous 2016, and in the past week, has been the rebranding of insurance broker Cooper Gay as “Ed”.
The new name apparently refers back to Lloyd’s founding father, Edward Lloyd.
As Intelligent Insurer reports, Ed’s Chief Executive, Steve Hearn, has noted that “many companies are named after their now deceased founders, or a street name with relevance to the company. He wanted something rooted in the past, but also fresh and dynamic. So, 325 years ago, Edward Lloyd’s coffee shop became the place to buy marine insurance. That is the tradition, but we wanted to consider what a coffee shop is today. It is modern, cosmopolitan, advanced and fast-moving—everything Ed stands for,” he said.”
Intelligent Insurer also reports on Ed’s plans for a Bermuda office opening:
“[Steve Hearn] said the company now has a solid presence in all the major markets globally for risk transfer, with the exception of Bermuda, which he describes as an “odd gap” in the company’s portfolio. Hearn plans to fix this by the end of the year, revealing plans for a new operation in Bermuda which will employ around five people, to Monte Carlo Today. “It was an odd missing piece of the puzzle for us and we will solve that by the end of the year,” he said. “I feel Bermuda is more vibrant and relevant than it has ever been, in part thanks to Solvency II equivalence. We look forward to establishing a presence in that market.”
This looks like good news for Bermuda, and good news for Ed.
As the Company’s website puts it, “It’s time for a new way of broking. It’s time for Ed“.