Ed, the London-based reinsurance, wholesale and specialty broker, plans to open an office in Bermuda.

The operation, which is pending approval from the Bermuda Monetary Authority, will be built and led by Chris Bonard, chief executive officer of group production at Ed Broking.

Mr Bonard was part of the executive team that launched Ed into the market in September 2016.

“Bermuda represents an obvious opportunity for us to better serve our customers for whom the island is an important market,” Steve Hearn, group CEO of Ed Broking Group, said in a statement.

In October Ed Broking announced that it is to be acquired by BGC Partners, a global brokerage and financial technology company, subject to regulatory approval.

Mr Bonard will report to Mr Hearn, who will become head of the new BGC insurance division on completion of Ed’s acquisition by BGC.

“With a business that already spans key markets in Asia-Pacific, the Middle East and Europe, we’ve been keen to further enhance our commitment to the North American market,” Mr Bonard said.

“I look forward to the opportunity to shape our strategy in Bermuda, deepen my existing relationships with clients in the US, Canada and the Caribbean — and to seek out fresh ones.”