BGC seeks to disrupt 'stacked' aviation market, launches new brokerage under JLT's Chad
BGC Insurance Group (BGCI), a division of global brokerage firm BGC Partners which owns Ed and Besso, is launching a new specialist global aviation and aerospace re/insurance intermediary under the leadership of JLT's Marcel Chad.
BGC has hired aviation specialist Chad to establish its new brokerage business as president. Initially headquartered in London, he will build a select team of experts in the key aviation insurance hubs across the globe.
Chad joins BGC Insurance from JLT Aerospace where he was a partner, prior to which he was CEO and deputy global chairman, Marsh Aviation Practice.
BGC said the new business will be built to provide the aviation/aerospace market with an independent alternative which will operate at global scale.
“The current market is stacked against aviation clients, with three brokers dominating this line of business because of their scale," said Andrew Wallin, chief commercial officer, BGC Insurance Group. "For a significant independent player like us with a client-focused approach, vision and technical prowess, the gap in the market offers huge disruptive potential. Our proposition will be compelling: a truly bespoke aviation offering from a concentration of the industry’s top talent and tailored to clients, as opposed to the one-size fits all offered by many of our competitors.”
Chad commented: “I wanted to do something new, creating an exciting alternative for clients, driven by leading talent and technology, that could truly invigorate the aviation industry and put customers at the centre of the proposition. BGCI was the only organisation that could match my ambition for the new platform, with the resources to make its success a reality.”
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