Ed Broking (Hong Kong) team has transferred its team and insurance business to Hong Kong’s Grandwood Insurance Brokers.
This includes managing director Karen Lieu who is leading the integration, which began on December 31, under the guidance of Grandwood’s chairman Wilfred Leung; altogether eight members of staff will join Grandwood and the insurance book will move with them.
InsuranceAsia News understands that Lieu will become managing director for the whole firm in due course.
The two firms have entered a transitional services agreement under which Grandwood will handle any Ed Broking business and claims going forward. A business collaboration is in place for two years giving Grandwood’s clients access to resources beyond Hong Kong and Asia; the transaction excludes any reinsurance business.
Kwun Tong-headquartered Grandwood is a member of Professional Insurance Brokers’ Association and was established in 2003. It provides cover in the SME and corporate sector for commercial, construction, engineering and industrial risks in the Special Administrative Region.
Ed Broking’s regional team, formerly called Cooper Gay, is overseen by Stephen Britten, Asia Pacific and MENA chief executive; the broker declined to comment about the move when approached by InsuranceAsia News.
 
 

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