Specialty Broker Ed Expands to Bermuda

Reinsurance and specialty broker Ed said it has received regulatory approval from the Bermuda Monetary Authority for its new operation in Bermuda.

Ed Bermuda will provide its multiline broking services through TradEd, its proprietary trading platform.

Opening in Bermuda underpins Ed’s commitment to existing and potential clients, particularly in the U.S., Canada, and the Caribbean, and will form an important component of parent BGC Insurance Group’s global insurance services offering.

Chris Bonard, chief executive of Ed in Bermuda, said Bermuda is an important global marketplace “but it has been dominated by a few big brokers.” He said Ed intends to become a significant independent player on the island and can now begin to assemble a top-flight team of professionals.