BGC Partners launches holding company for insurance interests

BGC Partners Inc. announced the launch of Corant Global Ltd., which will become the holding company for all its insurance interests, subject to regulatory consent.

Corant is the new name for BGC Insurance and will consist of broking operations Ed, Besso, Piiq Risk Partners and Junge, as well as managing general agencies Cooper Gay, Globe Underwriting and Epsilon. The entities will continue to operate under their separate brands, with Corant becoming the ultimate holding company.

Corant, led by CEO Steve Hearn and President Andrew Wallin, will also act as the investment vehicle for any future acquisitions for the group.

The insurance brands that make up Corant recorded a combined total revenue of over $175 million and more than $2 billion of insurance premiums placed over the 12 months ended Sept. 30, 2020.