Cooper Gay France (CGF) has signed an agreement with Tokio Marine Kiln to purchase its Belgian service company Tokio Marine Kiln Europe (TMKE) for an undisclosed sum.
CGF, a France-based managerial general agent (MGA) focuses on reinsurance, sports, property and catastrophe, and marine line of businesses.
Upon completion of the transaction, TMKE will become part of the London-based re/insurance brokerage firm Ed Broking that owns CGF.
TMKE will merge with CGF and operate under the Cooper Gay brand. The consolidated business will have staff headcount of 55 in Belgium, Germany, France, Martinique and the UK.
Existing Cooper Gay France CEO Frédéric Chappaz will be in charge of the combined group.
Chappaz said: “Since its launch in 2003 CGF has successfully developed through organic growth, and the time is now right to accelerate that growth through acquisitions.
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“We are delighted to have come to this agreement with Tokio Marine Kiln, a longstanding business partner with whom we have worked closely for nearly 20 years.
“I know our new colleagues in Frankfurt, Paris and Liege are as excited as I am about what we can achieve together. And I look forward to working with them as we build a truly pan-European MGA.”
Earlier this year, Ed Broking secured permission from the Bermuda Monetary Authority to launch operations in Bermuda.