A new independent broker serving the London market has launched, with an industry veteran at the helm.
Former Endeavour divisional director David Price (pictured) has founded the new Fenchurch and Partners Ltd. – a representative of Bennett Gould & Partners (Dorset) Ltd., with a specialist focus on US, Canadian, and European P&C lines. These lines include catastrophe property, trucking, binding authorities, parametric covers, and accident & health.
“In a market dominated by mega-brokers, we saw a huge opportunity to set up a next-gen broker with a fresh approach that will appeal to top talent and clients alike,” said Fenchurch co-founder and CEO Price. “Our focus is on transactions only where we add value, such as ‘hard to place risks’, which are either capacity driven or require a unique, bespoke solution.”
Price added that Fenchurch is using an “employee/partner model” to attract top talent; each employee will be able to become a partner and purchase equity in the firm after a period of 12 to 18 months.
In his previous position at Endeavour, Price produced a book of specialist business from the US, Canada, and Europe. Prior to that, he served as head of broker relations for Beazley’s London and European operations.
At Fenchurch, Price is joined by non-executive director and co-founder Brett Lee. Lee most recently held senior roles at HSBC in the UK and at Picket Asset Management.
As an independent broker, Fenchurch will operate a lean, legacy-free model utilizing cloud-based technology to trade digitally with markets and clients, a release said. Fenchurch will notably also operate completely paperless, allowing brokers to log on anywhere in the world to enhance the firm’s productivity and service.
In addition to its innovative paperless approach, Fenchurch has pledged to return 10% of its profits to charitable projects as part of its mission to give back and support communities.