Bridge Specialty Group announces appointment of Tim Coles as chief executive officer for European brokerage operations

Rhea-AI Summary

Bridge Specialty Group, the Wholesale Brokerage segment of Brown & Brown, Inc. (BRO), has appointed Tim Coles as the chief executive officer (CEO) for its European brokerage operations, effective January 1, 2024. Tim brings extensive experience in the insurance industry, previously serving as CEO of Xenia Broking Group and holding leadership positions at Howden. This appointment reflects Bridge Specialty Group's commitment to enhancing its London brokerage capabilities and expanding its market access and product offerings for customers globally.

DAYTONA BEACH, Fla., Nov. 22, 2023 (GLOBE NEWSWIRE) -- Bridge Specialty Group, the Wholesale Brokerage segment of Brown & Brown, Inc. (NYSE: BRO), announced that Tim Coles has been named chief executive officer (CEO) for the European brokerage operations of Bridge Specialty Group, effective January 1, 2024.

Most recently, he served as CEO of Xenia Broking Group, part of Kentro Capital Limited, which was acquired in October 2023. Tim began his insurance career at Howden, where he served for 13 years, first as CEO of the London broking business and then as CEO of Howden Broking Group.

Stephen M. Boyd, president of Bridge Specialty Group, shared, “Over the last few years, we have been diligently enhancing our London brokerage capabilities. The acquisitions of Lonmar and BdB, in addition to our longstanding London brokerage firm Decus, have provided Bridge Specialty Group with an increasingly diverse set of capabilities in terms of segment specialization and geographic reach to better serve the evolving needs of our customers. We are excited to announce Tim’s promotion to CEO of Bridge Specialty’s European brokerage operations. He will work closely with existing leaders across our London brokerage business to further grow our platform while providing additional market access and products for customers across the globe.”

Commenting on this appointment, Mike Bruce, chief executive officer of Brown & Brown Europe, said, “We are delighted that Tim is taking on this newly created role, as he combines the experience of operating within the London Market with a proven track record of leadership and delivering business growth. Our London brokerages provide complementary resources across a number of risk categories by combining the abilities of a superbly talented group of colleagues and teammates.

David Pexton, currently CEO of Lonmar, will take this opportunity to step away from his executive responsibilities, transitioning to a new role in supporting Tim and the combined operation during this transition and focusing on key customer and market relationships.”

About Bridge Specialty Group

Bridge Specialty Group, LLC was launched in February 2021 by Brown & Brown, Inc. to encompass its broad portfolio of wholesale insurance businesses and is focused on bringing the power of collective size and specialty to the wholesale brokerage marketplace. Composed of more than 25 boutique brands, Bridge Specialty Group is creating a more seamless way to connect the varying needs of our retail partners with the market clout and talents of our wholesale entities. To learn more about Bridge Specialty Group and our team of niche-focused brands, visit our website at bridgespecialtygroup.com.

About Brown & Brown, Inc.

Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With 16,000+ teammates in approximately 500 locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most. For more information or to find an office near you, please visit bbinsurance.com.

For more information:

• U.S. Press Inquiries – Steve Boyd, President, Bridge Specialty Group; +1 760 710 6865
• U.K. Press Inquiries – Ben Welsh; 07568 382040

This press release may contain certain statements relating to future results, which are forward-looking statements, including those associated with Bridge Specialty Group. These statements are not historical facts but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.

FAQ

Who has been appointed as the CEO for the European brokerage operations of Bridge Specialty Group?

Tim Coles has been appointed as the CEO for the European brokerage operations of Bridge Specialty Group, effective January 1, 2024.

What is the ticker symbol for Brown & Brown, Inc.?

The ticker symbol for Brown & Brown, Inc. is BRO.

What is Tim Coles' background in the insurance industry?

Tim Coles previously served as CEO of Xenia Broking Group and held leadership positions at Howden, with 13 years of experience in the insurance sector.

What is the significance of Tim Coles' appointment for Bridge Specialty Group?

Tim Coles' appointment reflects Bridge Specialty Group's commitment to enhancing its London brokerage capabilities and expanding its market access and product offerings for customers globally.