Marcel Chad joins BGC’s insurance arm to launch a new global aviation and aerospace re/insurance intermediary
BGC Insurance (BGCI) has announced plans to launch a specialist global aviation and aerospace re/insurance brokerage, with Marcel Chad as president.
Chad joins from JLT Aerospace where he was a partner, and prior to which he was the chief executive officer and deputy global chairman of Marsh’s aviation practice.
His appointment is subject to regulatory approval.
Chad was with Marsh for nearly 16 years.
He previously spent 18 years with Willis Towers Watson, where he was a regional director in the broker’s aviation division.
“The current market is stacked against aviation clients, with three brokers dominating this line of business because of their scale,” explained Andrew Wallin, BGCI’s chief commercial officer.
“For a significant independent player like us with a client-focused approach, vision and technical prowess, the gap in the market offers huge disruptive potential,” he added.
Commenting on his appointment, Chad said: “I wanted to do something new, creating an exciting alternative for clients, driven by leading talent and technology, that could truly invigorate the aviation industry and put customers at the centre of the proposition.”