Corant Global Limited (“Corant”) launches today. Corant will become the holding company for all the insurance interests of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP) a leading global brokerage and financial technology company, subject to regulatory consent.
Corant is the new name for BGC Insurance (BGCI), and will comprise of its broking operations Ed, Besso, Piiq Risk Partners and Junge as well as the group’s MGAs Cooper Gay, Globe Underwriting and Epsilon. Those firms continue to operate under their separate brands, with Corant becoming the ultimate holding company. Corant will also act as the investment vehicle for any future acquisitions for the group.
Approximately 900 people currently work across all the insurance brands that make up Corant, with a combined total revenue of over $175 million and $2 billion+ insurance premiums placed over the trailing twelve months-ended 30 September 2020. Corant is led by Steve Hearn, Chief Executive Officer, and Andrew Wallin, President.
Steve Hearn comments, “Through considerable investment, we have established a strong reputation as an expert insurance sector player with industry-changing ambitions.
“We have a multi-channel platform that is packed with market leaders across the group, and we have built a reputation for empowering those talented colleagues to deliver exceptional results for our customers. Over the past few years, the platform has grown rapidly and we have ambitious plans for our future to further capitalise on the many opportunities we see.
“The time is now right for our achievements to be collectively recognised through the launch of a clear and distinctive holding company brand and identity. Corant will be the best home for the best people, and it will drive continued investment across our portfolio of broking, technology, underwriting and advisory businesses.”