BCG Insurance Group (BCGI), a division of global brokerage and fintech company BCG Partners, has announced plans to launch a specialist global aviation and aerospace reinsurance brokerage. Marcel Chad has been named president of the new BCGI brokerage.
Chad joins BCGI with immediate effect and is currently working on establishing the new brokerage. Prior to joining BCGI, he was a partner at JLT Aerospace. He has also served as CEO and deputy global chairman of the Marsh Aviation Practice.
“I wanted to do something new, creating an exciting alternative for clients, driven by leading talent and technology, that could truly invigorate the aviation industry and put customers at the centre of the proposition,” Chad said. “BCGI was the only organization that could match my ambition for the new platform, with the resources to make its success a reality.”
“The current market is stacked against aviation clients, with three brokers dominating this line of business because of their scale,” said Andrew Wallin, chief commercial officer at BCGI. “For a significant independent player like us with a client-focused approach, vision and technical prowess, the gap in the market offers huge disruptive potential. Our proposition will be compelling: a truly bespoke aviation offering from a concentration of the industry’s top talent and tailored to clients, as opposed to the one-size-fits-all offered by many of our competitors.”