David Pexton steps back from Lonmar CEO role as Tim Coles is named CEO of Bridge Specialty Group in Europe
David Pexton has taken the decision to step back from his role as CEO of Lonmar, having joined the business some eighteen years ago and been at the helm as CEO since 2015. Tim Coles has been named CEO for the European operations of Bridge Specialty Group (Brown & Brown’s wholesale broking business which includes Lonmar).
Tim’s appointment will be effective from January 1, 2024, and David will take on a new role supporting Tim during this transition, whilst focusing on key customer and market relationships.
Tim is currently CEO of Xenia Broking Group, part of Kentro Capital Limited, which was acquired by Brown & Brown in October 2023. Tim began his insurance career at Howden, where he served for 13 years, first as CEO of the London broking business and then as CEO of Howden Broking Group.
Stephen M. Boyd, president of Bridge Specialty Group, said, “The acquisitions of Lonmar, BdB and Decus, have provided Bridge Specialty Group with an increasingly diverse set of capabilities, and we are excited to announce Tim’s promotion to CEO of Bridge Specialty’s European brokerage operations. He will work closely with existing leaders across our London brokerage business to further grow our platform while providing additional market access and products for customers across the globe.”
Commenting on these changes, Mike Bruce CEO of Brown & Brown (Europe) said, “I am delighted that Tim is taking on this newly created role. He combines the experience of operating within the London Market with a proven track record of leadership and delivering business growth.”
“I’d like to thank David for the fantastic contribution he has made to Lonmar. Having brought the business into GRP (now Brown & Brown (Europe)) when it was acquired in 2016, he has been instrumental in building what is now a highly talented team of over 130 teammates providing a first class service to our clients across a wide range of specialist lines. It has been a pleasure working with David, and I look forward continuing to do that in his new role which will allow him an improved work-life balance.”