Global wholesale insurance and reinsurance broker Cooper Gay Swett & Crawford (CGSC) has rebranded with a new name, Ed.

CEO Steve Hearn, who joined the UK-based company last November, says Ed represents the future of broking and a renaissance of a declining business.

“Our sector is stagnant,” he said. “It’s time for a change, and that’s our opportunity. Ed is broking redefined.”

Earlier this year CGSC sold its North American operation – CGSC North America Holdings – to US banking group BB&T for $500 million, to focus on its struggling international operations.

It also closed its Australian reinsurance broking operation 12 months ago, although it retains an interest in the local market through its wholly owned Sydney-based Epsilon Insurance Broking Systems.