13 December 2017Insurance

Lloyd’s broker Tysers acquires commercial lines business

Lloyd’s insurance broker Tysers has acquired the London-based commercial lines business of Cosmos Services, Hong Kong, a subsidiary of the Japanese global trading firm ITOCHU Corporation.

The acquisition strengthens Tysers’ UK and international practice and its capabilities and resources in serving Japanese clients in the UK and Europe, as well as forging a closer strategic relationship between Tysers and ITOCHU to develop further business, according to a Dec. 13 press release.

Cosmos’ employees will become part of the UK corporate risks division under the leadership of Stephen May, head of Tysers’ UK corporate risks division.

David Randle, managing director, Tysers international practice, said: “We are excited at the prospect of working alongside our new colleagues from Cosmos and expanding upon the range of services and products we can deliver to their established client base.”

Tysers handles in excess of £700 million of annual premiums and works with leading insurance markets worldwide to deliver risk solutions to a global client base.

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