JK Buckenham, a Lloyd's reinsurance broker, has announced the formation of a strategic partnership bringing together its special risks division with US wholesale and retail broker, Performance Insurance Services, to create JKB USA.
The operation will be based in Indianapolis, Indiana. Neal James-Crook who currently heads up JKB's special risks division has been seconded to the US to establish the business.
KB joint managing director Mark Trevor said: "Our special risks division already has strong links with the US...this strategic partnership provides an opportunity for JKB to capture a greater share of this major market.
"This geographic expansion also dovetails into the corporate strategy of our parent, the Hyperion Insurance Group, and we will be exploring every opportunity to cross-sell and collectively develop the group's business critical skills in North America.
"We believe there is significant potential to attract new business within our core capabilities including binding authorities, product enhancement – particularly focusing on affinity groups, professional indemnity, and accident and health.
"[We are] confident that we'll be bringing in profitable new business for the Lloyd's market."
