MAC Financial is going into the business of commercial insurance. Managing director Jon McGowan has announced the launch of a sister company to MAC Financial.
MAC Commercial represents a significant development in the range of bespoke services and corporate and insurance solutions offered by the Island’s largest corporate financial advisors. The two companies, based in Athol Street, Douglas, will combine their expertise to help clients achieve their financial objectives.
MAC Financial and MAC Commercial are independent, privately owned companies that provide a range of bespoke financial and insurance services to companies, individuals and their families. Together, these organisations can achieve highly effective solutions in wealth management, insurance and professional risks.
MAC Commercial offers commercial insurance, PI and D&O cover and marine, aviation and e-gaming services onshore and offshore. It can compete with any existing commercial brokers both local and international and is well placed to provide access to the “London-market”, and worldwide markets. The company also has exclusive arrangements with Bluefin, one of the UK’s leading independent broker groups.
“This is a major new initiative for the Isle of Man and a significant development for MAC,” said John McGowan. “With our contacts we are extremely well placed to offer exclusive and market leading deals and, as the Island’s largest corporate financial advisors, we now offer an unrivalled combination of independent advice, expertise and flexibility, backed by an exceptional commitment to personal service.”
A new face will also be joining the business as Trevor Vels takes up the role of General Manager of MAC Commercial.
“I am delighted to be part of MAC Commercial at this exciting stage of its development,” he said. “As MAC Financial has expanded the necessity for insurance for both its current and future clients has become apparent and I am pleased to be adding the provision of bespoke commercial insurance to the excellent suite of services already provided. I am looking forward to being a key member of the Island’s largest corporate financial advisors.”
Jon McGowan added, “I am delighted Trevor has joined our Group. He is a highly motivated and experienced individual and I am sure his contribution to the business will be invaluable going forward. We are pleased Trevor will play a key part in our future success.”
Trevor was appointed to run MAC Commercial, having spent the previous couple of years managing insurance captives.
He has more than 20 years experience in the non-life insurance sector and prior to leaving South Africa in 2007 with his family, he spent 10 years as managing director of Aviation Insurance, a specialist Guernsey owned South African domiciled insurance company. As a result of restructuring by the parent company, Trevor managed a buy-out from the ultimate shareholders in 2001 and in 2006, orchestrated the company’s sale to the largest insurance company in South Africa.
Previously, Trevor worked for the two largest non-life insurance broking firms in Johannesburg as director of commercial insurance, where he was responsible for creating and managing a new division to cater for the larger commercial accounts.
