Lloyd’s of London brokerage Costero Holdings has acquired fellow London-based Lloyd’s broker Mar Risk Services Ltd (MarRS) for an undisclosed sum.
“We are very excited about the new opportunities and additional products that we will be able to offer our clients with a continued emphasis on cost, coverage, and most importantly, claims service,” said MarRS chief executive Clive Freeman, who founded the business in 2000 and will continue with Costero as a non-executive director.
The whole MarRS line-up – which offers insurance advice and access to providers both in the Lloyd’s and international markets – has also joined Costero’s operations, with Stuart Freeman and Seema Pandey leading their respective energy and marine divisions, and James Wright staying as head of claims.
Meg Williamson, meanwhile, will coordinate with the Costero accounts division with a focus on energy and marine customers. Additionally, Jack Nicholson, Michael Pomroy, Matthew Martin, and William Freeman will support the broking and production of marine, cargo, liabilities, and energy both onshore and offshore plus renewables.
“We are pleased to welcome the team from Mar Risk,” commented Costero executive vice president Nick Murrell. “Their deep subject matter expertise in the fields of marine and energy will add further to the strength of the Costero team.
“We look forward to partnering with their existing global client base and providing new solutions across the combined group.”
