Cooper Gay France SAS (CGF), the Parisian operations of London-headquartered wholesale (re)insurance broker Ed, announced that it is buying Belgium-based service company TMKE from Tokio Marine Kiln. Financial details of the acquisition were not disclosed.
“The agreement brings together two complementary businesses, with the TMKE lines of credit and surety, cyber, space, and accident & health bringing geographical and product diversity to CGF’s current specialties property & catastrophe, sports, reinsurance, and marine lines,” stated the Ed unit in a LinkedIn post.
According to the announcement, the combined entity will be named Cooper Gay and will consist of a workforce of 55 people across Belgium, France, Germany, Martinique, and the UK. Cooper Gay will be under the leadership of CGF chief executive Frédéric Chappaz.
“Since its launch in 2003, CGF has successfully developed through organic growth, and the time is now right to accelerate that growth through acquisitions,” said Chappaz. “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.”