Posted on May 10, 2010 by Sergio Ulloa
Brokerage World Solutions (BWS) is ready to globally offer optimal-value insurance and risk management solutions to businesses in various industries around the globe. BWS is the group holding company resulting from the merger of Insure Direct, a Dubai-based insurance broker, and Independent Risk Solutions BV, a marine insurance specialist based in Rotterdam.
It is envisioned that all Middle East operations will be handled by BWS using the Dubai office of Insure Direct.
As a first step, BWS has created Brokerage World Solutions UK, in partnership with Oxygen Holdings of London, to operate as an appointed representative of Oxygen Insurance Brokers Limited. The focus of BWS UK will be to satisfy the specialist insurance areas of the regional market, providing sector-specific products. Additionally, it BWS UK will handle the international portfolio for a portion of the brokerage programmes for Europe currently under Insure Direct.
BWS UK as a market intermediary will handle international placements for BWS, and create new UK business for Oxygen, whilst being jointly managed by both parties.
For BWS as a group, BWS UK is seen as an opportunity to get a foothold in the British market. Whereas Oxygen sees this partnership as a win-win situation for the clients of both companies.
Insurance Company mentioned:
Brokerage World Services (BWS) is a Valetta-registered insurance "group" holding company with a growing international footprint. It is the parent company of Insure Direct, a Dubai-based insurance broker with offices across the GCC region, and Independent Risk Solutions BV of Rotterdam, the Netherlands, which provides services for clients in Europe, the Middle East, the US and the Gulf of Mexico, the Far East, Russia and South Africa. The BWS business strategy is driven by the ability to create a level of synergy that would offer their clients the best insurance solutions, whatever their core business activity. BWS specialist brokers combine more than 200 years of expertise in covering sectors as diverse as marine, energy, construction, aviation, finance, professional and personal insurance.
Oxygen Insurance Brokers (OIB) is a Lloyd's Broker, authorised and regulated by the Financial Services Authority of the UK. It is the UK operating company of Oxygen Holdings plc. The company employs over 180 people and has eleven offices in nine cities in the UK and USA: London, Leeds, Manchester, Glasgow, Bermuda, New York, Nashville, Las Vegas, and Los Angeles. The company is structured around five divisions: (1.) Robertson Taylor - the music & entertainment division providing specialist products for these industries; (2.) Oxygen Corporate Risks - serving the needs of commercial organisations across the world; (3.) Oxygen Partners - creates and manages facilities for third party brokers and MGAs; (4.) Private Client Services - serving the needs of high net worth individuals globally; and (5.) Oxygen Re - responsible for all activities in treaty reinsurance broking.