Benfield Group
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The world's leading independent reinsurance and risk intermediary, Benfield offers a range of services associated with the structuring and execution of insurance, reinsurance and other forms of risk transfer. Customers include most of the world's major insurance and reinsurance companies as well as government entities and global corporations.
Through the subsidiary, Benfield Corporate Risk, Benfield also caters for the complex risk management and transfer needs of corporate entities in selected industries.
Headquartered in London and incorporated in Bermuda, Benfield has an international network of more than 50 offices and a leading presence in major insurance and reinsurance markets including the US, the UK, Continental Europe, Bermuda and Asia. Benfield is not a risk carrier and is not exposed to any underwriting risk.
Benfield is the only global intermediary with more than 90% of its revenues from reinsurance broking. For the year ended 31 December 2007 Benfield reported operating revenue of £339.2million and a trading result (before goodwill impairment, amortisation of intangible assets, depreciation of property, plant and equipment and exceptional items) of £69.3million.
[edit] History
January 1973 - Benfield, Lovick and Rees & Company Ltd (BLR) is established and becomes registered as a Lloyd's broker in July of that year.
September 1988 - A team including the late Matthew Harding, John Coldman and Grahame Chilton leads a management buy out of Benfield, Lovick and Rees to form The Benfield Group.
November 1995 - The Benfield Group acquires Lloyd's reinsurance broker Ellinger Heath Western, a specialist in North American and UK non-marine treaty reinsurance, so creating Benfield Ellinger Limited.
November 1997 - Benfield Ellinger merges with Greig Fester to form the Benfield Greig Group.
May 2001 - Benfield Greig merges with EW Blanch (established in 1957) to form the world's leading independent reinsurance intermediary, the Benfield Group.
April 2003 - The group creates a single brand identity, represented by the name Benfield.
June 2003 - Benfield lists on the London Stock Exchange (BFD).
September 2005 - Formal launch of Benfield Corporate Risk, the insurance broking arm of Benfield which specialises in large and complex risks where it can add substantial value and has a particular focus on the marine, energy, power, aviation and space sectors.
[edit] External links
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