BGC completes Ed acquisition

BGC Partners has completed the acquisition of Ed Broking Group. Ed will become part of BGC’s insurance division, which was established in 2017 with the acquisition of Besso. Steve Hearn, currently group CEO of Ed, will become head of BGC’s insurance division.

President of BGC Partners, Shaun Lynn said: “We are delighted to complete the purchase of Ed, a company with a great reputation, a global footprint and an excellent management team that will continue to build on BGC’s success in growing the insurance brokerage business.”

Under the terms of the agreement, BGC acquired 100% of Ed, which includes broking operations under the Ed brand in the UK, Singapore, Hong Kong, Dubai, Miami and China; Ed’s German marine broking arm, Junge & Co. Versicherungsmakler GmbH; Ed’s UK-based MGA operations Globe Underwriting ; Epsilon Insurance Broking Services Pty in Australia; and Cooper Gay (France) SAS, which is based in Paris.

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