Ed on target to reach $1bn goal with its perfect partner: CEO

Broker Ed is making good progress in its aim of becoming a billion-dollar business and it thinks its new ownership will give it a boost towards achieving this.

Kieran Angelini-Hurll, chief executive officer of reinsurance at Ed, told Monte Carlo Today that the past year had been a very exciting one for Ed.

BGC Partners acquired Ed at the start of February 2019. Angelini-Hurll described BGC as being the perfect owner for several reasons: it has a long-term view; it will invest in Ed to help develop and grow the business; and it can help Ed access technology that will assist it move towards electronic broking.

“BGC’s intention is to work with us and our partners to build a significant brokerage business, backed up by state-of-the-art tech,” said Angelili-Hurll.

“They are absolute experts on brokerage business and on how they can transform brokerage business. What they really understand is data.

“We’ve just started on our journey of how we want to differentiate ourselves as a broker by building out our insurtech system TradEd. Every single offer, every single person, every single office and every single line of business uses TradEd.

“It’s about how we interact better with our clients and how we collect the data, clean it and then use that data. We need to know how we can work better and more efficiently with our carrier partners.”

Ed is also building out its worldwide footprint, as it seeks to use local knowledge in those places where it is creating its broking hubs, such as Bermuda, China, Dubai and Miami.