Lloyd's broker plans to expand financial lines amid hardening market

Lloyd's broker  Lonmar Global Risks, part of Global Risk Partners (GRP), has hired an experienced specialist financial lines broker as it looks to expand in the UK and international financial lines, which is currently experiencing a hardening market.

Giles Smithson (pictured) will join Lonmar as divisional director, financial and specialty lines. He reports to executive director Karen Allen.

Smithson joins Lonmar from Besso, where he spent over 20 years and was a member of the professional and financial risks division. He began his career in 1991 as a reinsurance broker at Johnson, Puddifoot & Last (now part of Willis Holdings).

Smithson stated that his new role will focus on helping clients navigate through a challenging period for financial lines, which is experiencing a hardening market as a result of past losses and concerns about the impact of the pandemic.

“Our focus includes not only assisting Lonmar and GRP clients with their management liability and financial lines requirements, but also looking for opportunities to grow our market presence in this sector," he said. “It’s an exciting time to be stepping up to this new role and I’m really looking forward to helping to grow Lonmar’s London wholesale presence and being part of the GRP Group.”

Karen Allen, Lonmar executive director said: “It’s great that someone of Giles’ calibre and experience has joined us at this important time. He will be instrumental in growing Lonmar’s UK and International Financial Lines offering, and helping us achieve our long term growth ambitions.”

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