Thirteen members of Lonmar Global Risks' staff have joined fellow London market broker Arthur J Gallagher UK.
The move is part of Lonmar's sale of part of its liability and affinity portfolio to Gallagher UK, which Lonmar confirmed today.
As first revealed by Insurance Times in April, the departing team includes Tom Payne, Lonmar's managing director of Casualty. The team also includes Charles Heneage, managing director of exceptional risks.
The 13 staff have all been released from their contracts with Lonmar for an undisclosed sum.
“The decision to sell part of our liability and affinity business to Gallagher was for our mutual benefit and was agreed under Lonmar’s terms," said Lonmar chief executive Simon Rice in a statement. "For the future, we remain fully committed to these classes of business as part of the range of the services available to our international client base.”
Gallagher UK chief executive David Ross added: “We are pleased to have agreed terms for this deal; the acquisition of this business and its associated personnel forms an important part of our ongoing growth strategy.”
No comments yet