Cooper Gay & Co (Cooper Gay), and Newman Martin and Buchan (NMB), have appointed Martin Stephenson as CEO for their combined Reinsurance business, effective immediately.

Previously Managing Director of the NMB Reinsurance division, Stephenson brings over 25 years’ market experience to the role. Following the acquisition of NMB by the Cooper Gay Swett & Crawford (CGSC) Group last year, Stephenson held the position of Head of Reinsurance Production for the combined businesses.

Based in London and reporting to Gordon Newman, CEO of Cooper Gay and NMB, Stephenson takes over the role of CEO Reinsurance from Andrew Hitchings who has resigned from the company. He also joins the boards of Cooper Gay and NMB, subject to Financial Conduct Authority approval.

Commenting on the appointment, Gordon Newman said: "We see great growth potential in our reinsurance business and are fortunate to have Martin’s experience and knowledge to draw on. Martin knows our clients and our business and, as a highly successful reinsurance broker, he is ideally placed to lead the integrated Cooper Gay and NMB Reinsurance team during its next chapter of growth. I would also like to thank Andrew for his service at Cooper Gay and wish him well for the future."