Golden Apple Appoints London Broker

Miami-based Golden Apple Holding Company (GAHC), a wholly owned subsidiary of Navigator Ventures Inc. appointed Ballantyne McKean & Sullivan Ltd. (BMS) as lead broker of record to secure reinsurance for Golden Apple’s planned insurance company operations in the London Market and Lloyds. In addition, Golden Apple said it plans to work with other selected brokers for specific reinsurances, as required.

“Our goal is to acquire and operate a commercial property and casualty company catering to small and medium-sized businesses in both the Hispanic and English-speaking business communities, initially in Florida,” said Diane Perkins, Golden Apple’s President. “We have reviewed our business plan with several leading markets supporting commercial lines coverages at Lloyd’s and generated substantial interest.”

“Insurance companies reinsured at Lloyd’s and supported in the London Market have the comfort of knowing that their security is spread among many risk takers rather than residing at one company,” said Perkins. “Our initial visit was to confirm our ongoing contacts with key London Brokers who have stated that select reinsurance markets will have substantial additional capacity for 2003 and that they would look with interest on our business plan. Our visit confirmed that our plan is achievable,” Perkins said.

Perkins noted that Golden Apple’s principals have past working relationships with Ballantyne McKean & Sullivan, Ltd. “We are very gratified to have the support of BMS, who I have worked with before, and through various endeavors with notable success,” said Perkins.

“Golden Apple has an excellent business plan and brings quality executive principals to the table. Their cutting edge data technology will enhance their trading opportunities in a market place that is still in much turmoil,” said Hugo Crawley, chairman of BMS Ltd “We have every expectation that they will have the full support of the reinsurance market.”

Topics Agencies Reinsurance London