The two GRP brokers completed the merger yesterday
Lloyd’s brokers Lonmar Global Risks and Ropner Insurance Service have confirmed a merger of the two firms.
Both brokers are part of GRP, and yesterday (Monday) merged under the name Lonmar Global Risks.
However, both brands will be maintained – Lonmar for non-marine business and Ropner for marine business.
Following the merger, David Pexton will continue in his role as chief executive of Lonmar, while former chief executive of Ropner, Richard Steel, will become vice-chairman of Lonmar.
“Leading independent Lloyd’s broker”
Pexton said: “By combining our two businesses we are able to offer all our clients a wider range of capabilities and products across both marine and non-marine classes of insurance.
“Our teams will work across client accounts under the new structure, and together we will be one of the leading independent Lloyd’s brokers, with a stronger and more diverse profile with the insurance market.”
Steel added: “Over the past two years we have developed a familiarity with and respect for each other’s business and believe that both companies have much to gain from combining their operations.”
The combined business will operate from the same location in Mark Lane, London, where the 120 staff of both firms currently work.
And GRP chief executive David Margrett added: “Both Lonmar and Ropner have a long and respected history, operating in their own specialisms as Lloyd’s brokers.
“The merger was very much the brainchild of David and Richard, and I am convinced that, by bringing the businesses together, they will be able to build on their individual successes.”
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