Shaun Lynn, BGC Partners
London - BGC Partners has entered into an agreement to acquire Besso Insurance Group, an independent Lloyd's of London insurance broker specialising in Property, Casualty, Marine, Aviation, Professional and Financial Risks and Reinsurance.
Shaun D. Lynn, President of BGC Partners, said: "We are excited about this strategic acquisition in the insurance brokerage sector. After extensively researching the insurance brokerage industry, Besso stood out as providing an excellent platform on which to establish a new vertical. Over time, we expect to build a sizable insurance brokerage division within the Company".
Details of the transaction were not disclosed, and completion of the transaction is subject to legal and regulatory approvals and certain closing conditions.