David Lawrence, Endeavour founder and CEO, offers his thoughts on the historic merger of Endeavour Insurance Services and fellow Lloyd’s broker SSL Insurance.
As a Lloyd’s broker and delegated authority specialist since 1999, Endeavour Insurance Services built both a reputation for reliability and an abundance of specialist expertise across many aspects of the (re)insurance market. The company has grown into one of the largest and most respected independent producers of delegated authority business into the London market.
We are lucky enough to enjoy long-standing relationships with many of our valued clients. I’m so proud of the talented team Endeavour has grown, our strong focus on modernising processes, particularly claims, and our enthusiasm for solving problems on behalf of our clients.
I feel privileged and delighted to be a part of the recently announced merger, between Endeavour and SSL Insurance Brokers; a historic event that has taken place under the auspices of the private equity firm JC Flowers.
The new business will trade under the name SSL Endeavour and the management and staff of the two former entities will be working side-by-side to form a formidable alliance.
SSL Endeavour making headlines
The media response to the announcement of this deal was fantastic, with interest from across the (re)insurance press – from marine specialist publications to North American-focussed titles and so many more between.
Indeed, the fact that JC Flowers simultaneously acquired and merged both Endeavour and SSL warrants the industry’s attention – I can’t remember another instance in the history of the London Market where two businesses have been acquired and combined in this way.
Beyond this, however, the coming together of two such complementary businesses, and the insightful merging of two exceptionally professional and dedicated teams, is set to bring something unique to SSL Endeavour’s clients and to Lloyd’s itself.
As a single entity, Endeavour boasted specialisms in many classes of risk, including product recall, event cancellation, intellectual property and cyber. Our team is also no stranger to innovation, with our unique Advantage claims handling system supporting a more efficient, streamlined London Market claims experience for our Coverholder clients.
Meanwhile SSL, which was established as a broker in 2003, has the distinction of being the first to enter the London Market directly, without initially working through an existing broker.
Originally a marine cover specialist, SSL quickly built a sizeable book of fleets worldwide. It is now a leading marine broker, supporting clients in more than 80 countries. As well as its marine expertise, SSL has expertise in many other insurance classes including Cash in Transit, Financial Institution and Political Risk. Employing 42 people, the company is headquartered in London.
The combined SSL Endeavour is greater than the sum of its parts – combining talents and specialisms to offer more to our clients – more classes of business, more insight and more value at every stage.
The coming months will see teams from both companies work together to plan the next steps of our integration. In this spirit of advancement and union – and it does feel as though I’m naming a ship – I am delighted to welcome the launch of SSL Endeavour.