Bissell and Partners CEO on fulfilling a career-long ambition

You solely have one likelihood to make a primary impression however, in case you do it proper, that’s all you want. The first impression that the Lloyd’s of London made on Chris Bissell (pictured), CEO of Bissell and Partners, was sufficient that it sparked his career-long ambition of changing into a part of the distinctive ecosystem of the world’s oldest insurance coverage market.

It was simply over 15 years in the past that he had his quick style of the market, he stated, at a vital juncture in his life when he was deciding whether or not to take up a spot at college or be a part of the workforce. He knew that he wished to work in London, he stated, and it was endeavor a piece expertise placement at a brokerage that made up his thoughts.

“I remember being taken around Lloyd’s and from the moment you walk in, you’re just wowed by the rostrum,” he stated. “Everything about it was and is just so fascinating. I fell into the Lloyd’s ecosystem and always set my stall out with the ambition of creating my own Lloyd’s broker.”

How Bissell got here to ascertain Bissell and Partners

Bissell’s early days within the re/insurance coverage market noticed him tackle quite a lot of roles together with a short stint in underwriting and time spent as a field assistant earlier than he joined a Lloyd’s dealer – which was a pure match. At the again of his thoughts, nonetheless, he stated, he by no means overlooked the imaginative and prescient he’d at all times had of organising his personal enterprise and being his personal boss.

It was in 2016 that Bissell arrange Bissell and Partners, a boutique re/insurance coverage dealer serving the wants of higher-end, higher-ticket shoppers throughout the globe and dealing with a spread of specialized associate brokers which function in the identical house. Recent successes loved by the agency embrace its providing reinsurance options to guard Flag Carrier Airlines worldwide and its insuring of a high-profile Floating Dry Dock.

What’s taking place within the reinsurance sector at present?

“We operate in a very niche area of the reinsurance space, typically on the facultative reinsurance side of things,” Bissell stated. “We have been seeking to get extra into the treaty facet of issues, but it surely takes fairly a very long time to develop the correct relationships with the cedents all over the world… It’s an attention-grabbing time to be within the reinsurance sector relying on the place you’re on the planet. It’s wonderful to see how totally different elements of the world are in such totally different phases of the reinsurance and insurance coverage cycle.

“With our global perspective, you start to see the different patterns emerge, for instance, finding that regions like Latin America have a slightly different cycle of reinsurance and insurance needs than perhaps Europe or the US. And I would say that Lloyd’s and the London market tend to be ahead of the curve, that we’ve already spearheaded the next stage of the lifecycle, compared to the rest of the world. It’s certainly an exciting time to be in the market because there’s all sorts of opportunities out there at the moment.”

How Bissell and Partners grow to be authorised by Lloyd’s

Throughout his re/insurance coverage journey, Bissell by no means overlooked his ambition to grow to be a part of the Lloyd’s market, a imaginative and prescient that was realised earlier this week when the agency introduced its newly authorised standing as an unbiased boutique Lloyd’s dealer – BNP 1979 – efficient March 28, 2024. The authorisation has been a whirlwind, he stated, however the staff are “ecstatic” to have seen the method by means of.

Touching on what the transfer means for the brokerage’s shoppers, he highlighted the integral position that Lloyd’s performs within the insurance coverage market. An enormous a part of what Bissell and Partners does at a enterprise is unlocking inventive options, he stated, and Lloyd’s is all about creativity. In the previous couple of years, capability has been tighter, which is creating altering circumstances throughout the market which is enabling brokers to have a seat on the desk with underwriters to truly thrash out some “truly unique covers”.

“That’s what we’re aiming to do,” he stated. “Our philosophy at Bissell and Partners has always been that we’re not interested in taking other brokers’ business… we want to target the new business entering the market, where we can get involved with the client from the ground up and really create something unique. That’s where we see Lloyd’s fitting in with our mission and what we do. And that philosophy is shared by the people and partners we work with around the world as well.”

What’s subsequent for Bissell and Partners?

With an eye fixed on the longer term, Bissell highlighted that the agenda of his staff is stacked with formidable aims for the 12 months forward, however they’re balancing these with an emphasis on enterprise as typical. Right now, high of the listing is stabilising the ship in gentle of its latest adjustments, he stated, and ensuring it’s positioned for long-term, worthwhile development. Key to that development shall be constructing out its present staff with new colleagues who share its imaginative and prescient and mission-spirit, although within the longer-term, it can probably embrace worldwide enlargement plans.

“It is hard work and anyone who says it’s easy is lying to you,” he stated. “You have to go through so many hoops and hurdles to get something off the ground. But when I look back to 2016, I remember thinking ‘if you’re going to do this, now’s the time to do it’. Because I think if I had gone straight into another job, things would have changed and I may never have been able to build this. You’ve got to take a leap of faith every now and then.”