Brokerage World Solutions formed as global platform for high value insurance solutions

Published May 9th, 2010 - 01:18 GMT

Following their successful merger last year, Dubai-based insurance broker Insure Direct and Rotterdam-based marine insurance specialist Independent Risk Solutions BV (IRS) today (May 09) announced the establishment of an expanded group holding company, Brokerage World Solutions (BWS).

BWS aims to present a global platform of optimal-value insurance and risk management solutions, with products that comprehensively cover the industry various segments.

Registered in Valetta, Malta, as a holding company, BWS will handle its Middle East operations through Insure Direct’s Dubai office and vast regional network.

As the first step to expand its European footprint, BWS has launched Brokerage World Solutions UK, which will be jointly owned and managed by London-based Oxygen Holdings PLC, and will operate as Appointed Representative of Oxygen Insurance Brokers Ltd.

BWS UK will focus on specialist areas of the regional market with sector-specific products. It will also handle the international portfolio for part of Insure Direct’s brokerage programmes for Europe.

Kenneth George Maw, Chief Executive Officer, Brokerage World Solutions, said: “BWS reflects an ambitious global plan borne out of the success we achieved through Insure Direct and IRS. Our partnership with Oxygen Holdings plc will help expand our existing Middle East and European footprint into the British market. Our combined expertise and strengths offer clients new, sustainable insurance options in today’s changing market environment.”

Nigel Barton, CEO, Oxygen Holdings plc, said: “We have been exploring this venture with Ken and his team for a while, and we feel that putting the power of two dynamic and expansive insurance businesses together for the purposes of placement into the London and European Markets is a great win for Oxygen’s and BWS’s clients.”

BWS brings under one roof more than 200 years of combined insurance experience and expertise honed in markets as diverse as Europe and the Middle East. By working in partnership with reputed global networks and specialist reinsurance providers, BWS enables clients to benefit from competitive premium levels, with the assurance of appropriate international support where required.

Insure Direct’s extensive service range covers all key industry sectors, which also include niche areas where innovative products suit the needs of an exclusive clientele, while IRS is a recognised specialist in marine, energy and offshore construction insurance. Together, under the BWS brand, they offer cost-effective and comprehensive risk transfer and advisory solutions to the UK market.

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