BGC grows with acquisition of Ed Broking Group Limited
In 2018, BGC announced the acquisition of Ed Broking Group Limited (Ed), a transaction that was later completed in 2019. Ed is a leading insurance broker with a strong reputation in a range of fields including accident and health, aerospace, energy, financial and political risks, among others. The addition of this company to BGC’s portfolio has expanded the company’s global footprint while expanding its insurance brokerage business. However, this business unit was later sold in 2021.
Balance Sheet|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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