News - G4 moves to boost e-trading.

(c) 2006 Post Magazine. All rights reserved.

Four of the UK's largest brokers are set to formally announce they have formed their own version of the Lloyd's Group of Six.

Aon, Willis, Marsh and Benfield have agreed to share information in order to facilitate the London market's move to full electronic trading and to facilitate communications with G6.

While the quartet have long been branded the 'G4', the G6 insurers - Amlin, Beazley, Catlin, Hiscox, Kiln and Wellington - have up to now had to communicate with each broker individually.

This formal agreement will see these brokers unite with a designated person, like Hiscox's chief operating officer Sue Langley at G6, as chair.

A London market source said: "The move follows the G6 initiative and makes sense as smaller groups can gain consensus and move more quickly. This will make it easier for the two groups to talk to each other."