Move could raise questions over Kerry London's MGA deal with Fortis
Five members of Kerry London’s sport and leisure division have been tipped to join Cullum Capital Ventures (CCV).
The team, including managing director Chris Wright, are understood to have handed in their notice at the end of last month and are currently on gardening leave.
Wright joined Kerry London’s sport and leisure division from Heath Lambert in 2008, along with Richard Hancock and Jeremy Prowse. Other members of the team previously worked at Marsh.
Kerry London chief executive Damian Kissane said it is the company’s policy not to comment on clients or internal matters. CCV chief executive Michael Rea also declined to comment.
The move also raises questions over Kerry London’s managing general agency (MGA) agreement with Fortis. Last year, Fortis signed a five-year deal to be the sole capacity provider for a new MGA with Kerry London, aimed specifically at the sport and leisure market.
The deal, which has a no-capacity limit, allows Kerry London to underwrite business for hospitality, health and fitness, and golf clubs. A Fortis spokesman declined to comment.
Last month, Kerry London was rocked by Laing O’Rourke’s decision to switch broker. The construction giant has appointed Marsh.