Lloyd's broker finally departs from Bluefin

SBJ Global Risks has completed its MBO from Bluefin.

SBJ announced it would be quitting AXA-owned Bluefin in May, but finally completed the move today.

AXA originally snapped up SBJ Group, a mid-corporate insurer, in March last year and later absorbed it into its broking subsidiary, Bluefin.

The SBJ Group acquisition also included its specialist Lloyd’s broking arm, SBJ Global Risks, which has expertise in marine, property and bloodstock.

AXA Insurance chief executive Philippe Maso said at the time Global Risks did not fit with the AXA model and the MBO was the “right strategic solution for both companies”.

Sine the MBO, SBJ has appointed Steve Ford and Simon Laycock as a new binding authority team. They join from Aon/Benfield.

Ford and Laycock each have over 20 years experience in the London insurance market and focus predominantly on North American and International Non Marine Binder business. They joined Aon as part of the acquisition of Benfield Group where they had been employed for 10 years.