The Brokerslink global broking network, with partners and affiliates spanning across 133 countries was, 20 years ago, just an idea by the then CEO of a Portuguese broker, MDS. Since those humble beginnings both have grown to new heights, are internationally recognised and admired. FULLCOVER looks at the strategic drivers and milestones behind Brokerslink’s foundation and reflects on some of the major steps in its development.

The beginning: a visionary idea in 2004

Founded in Porto, Portugal, Brokerslink was created by brokers for brokers, with the ambition to provide international support to clients with business abroad. Over time, this ambition evolved into a bold vision: transforming a partnership network into a true value-generating ecosystem, connecting talent and independent firms around the world, while preserving their autonomy and building collective strength.

In the early days, MDS was very much the driving force. MDS, a captive insurance broker within the multi-national Sonae Group, which was originally created to manage the company’s insurance and risk policy, was on the cusp of change at the turn of the Century. And to drive this new ambition to create a centre of excellence for insurance and risk management
it appointed a new CEO – José Manuel Fonseca.

Despite early international acquisitions – French brokers FirstAssur and Pérouse, and a 45% stake in Brazilian Lazam, MDS wanted to expand its ability to serve its growing book of clients internationally. At that time, MDS had a working relationship with Marsh Madrid, but switched its book, in stages, by 2006, to the smaller, independent, and UK-based Cooper Gay, aware that MDS’s voice would carry more weight in the more focused business.

20th anniversary opportunity for birth

In June 2004, MDS celebrated its 20th anniversary by hosting a major conference and dinner in Porto. This celebratory gathering also provided a strategic opportunity, one not lost on José Manuel Fonseca, to invite the heads of its partner brokers – Spain’s Artai, France’s Pérouse, FirstAssur, and Brazil’s Lazam-MDS to lunch on the day of the conference.

The big reveal

The lunch at Porto Palácio hotel, in Portugal, marked the start of Brokerslink’s journey. José Manuel Fonseca outlined his big idea – that they should look to find a way to formalise and organise their working relationships and look for new partners in different countries. The strategic goal was clear – to enable them to embrace international programmes without having to use the multi-national brokers, in so doing, protecting their businesses and helping them to grow.

The concept was based on the growing realisation within MDS that despite already working across national borders with the likes of French broker Pérouse, if it, and its broker partners, wanted to truly be able to serve clients across borders it/they, would need many more trusted partnerships with independent brokers.

To meet this strategic imperative an idea, and a vision, began to percolate and solidify.

Ever prepared, ahead of this historic lunch, José Manuel Fonseca worked with the marketing team to come up with a name for this informal association of brokers and to mock-up a draft – basic and rough around the edges – brochure.

At the lunch, after floating the idea, as José Manuel Fonseca says: “Like a magician, I leaned down to my suitcase and whipped out the draft brochure, with the Brokerslink brand, logo and messaging already prepared – and declared, okay, so let’s go...”

Everybody agreed over lunch – and the small group turned their attention to the next steps.

Building the network

The second meeting of the founders was hosted by FirstAssur in November 2004, Paris, a meeting that underlined what would turn out to be the driving force behind Brokerslink’s future growth – an onus on personal relationships, introductions and recommendations. At that same meeting for example, Cooper Gay’s James Kininmonth recommended German broker Junge & Co. – and they subsequently joined. As did Cooper Gay itself soon after.

Tapping into a trend: something in the air

Whilst Brokerslink was starting to form, two other regional networks were also working towards a similar goal – looking to unite insurance professionals and offer clients a more optimal and flexible risk management experience. Namely, the PanAsian Alliance in the Asia Pacific region, and Alinter in Latin America. It would not be long until their paths crossed.

In March 2005, the PanAsian Alliance was officially formed by ten member companies from various Asian countries at a conference with New World Insurance’s Hei Wong at the helm. Once again, demonstrating Brokerslink’s strong personal relationships, it was actually Cooper Gay’s CEO Toby Esser who first highlighted the existence of the PanAsian network and its aligned values. In the following year, José Manuel Fonseca met up with Hei Wong in Shanghai and the pair quickly developed a co-operation and development model.

In January 2007, another informal network was emerging in Latin America, Alinter, with operations across South America. Again, it was a personal contact, Steve Jackson – who knew of the network that brought the two together informally – this time first meeting in Mexico with José Manuel Fonseca.

When three become one

In 2007, partnership protocols were signed among the three networks – covering Europe, Asia and Latin America – and a closer relationship began – and one that would develop quickly.

In 2008, Brokerslink and Alinter attended the PanAsian Alliance’s annual meeting in the Philippines, where the potential of consolidation into a single group was first discussed. There were no boards, no CEO, no president but a merger was on the cards. And after much discussion at a meeting in Bangkok, over the name and branding – the group settled on Brokerslink, and the global alliance was born.

Structured and conscious growth

From its humble beginnings, Brokerslink began to build, and grow, carefully and thoughtfully.

As a fledgling organisation, with no track record and no official board, attracting and identifying potential new broker members in different countries was, in the early days, heavily reliant on the personal contacts and recommendations of those already involved. The whole process of recruitment was, at this stage, very informal – and whilst it was a slow process, one really of osmosis, it worked.

By way of example, it was personal relationships that enabled Brokerslink to attract US broker Frank Crystal to the network.

The start of something special: the Global Conference

Coming together is baked into Brokerslink’s DNA, and its first ever Global Conference took place back in June 2009 in Hong Kong – the emerging relationship with AIG resulting in the sponsorship of the event and a guest keynote speaker – Nick Walsh. All despite AIG in the midst of its own financial crisis…

The first global conference – by the still informal organisation – attracted 75 Partners & Affiliates, along with around 25 guests and speakers, representing 40 different countries.

The first five years of Brokerslink had been very informal, but with an annual conference, membership fees and sponsorship, a growing reputation – and membership – it was time to start putting a structure and processes into place. More than everything: what was at first a European network was transforming itself into a global one.

First of all, a board was formed – with Hei Wong, José Manuel Fonseca, Jamie Crystal (Crystal & Co), Steve Jackson (Cooper Gay), and Mauricio Esquino (Alinter). José Manuel Fonseca was unanimously voted as head, yet there was still no team, and no offices, with MDS providing logistic support.

Events in 2011 would see this board change – and Brokerslink come of age. The 2011 Global Conference in Miami followed the acquisition of French member D&P Assurances by Filhet-Allard – a major player, that was already part of a broker network – one that it had founded. Once Grégory Allard, from Filhet Allard, saw Brokerslink in action, he was so impressed that he left
that network and joined Brokerslink also becoming part of the board.

Establishing values

At the same time Brokerslink’s values were being refined and consolidated – that it would stick to one broker by country, sharing business between them as well building new business. And importantly, and a major differentiation, was its desire to be close to, and support, the risk management community.

Risk Management at its core

As far back as 2005 – even though barely formed, Brokerslink had recognised the importance of partnering with the risk management community – and it attended its first ever European risk management event, the FERMA Forum, in October,
that year, that took place in Lisbon. José Manuel Fonseca hosted the event as chairman, and he and all MDS team helped make a very special and unique FERMA forum. He also served as Vice President of FERMA for two years.

Brokerslink also took its first stand at RIMS, the US risk management society’s conference in 2008 in San Diego. In addition, it has had a growing presence at both events every year since and remains the only broker network to exhibit at RIMS.

The partnerships with both FERMA and RIMS have only continued to grow over the years, and in 2024, Brokerslink established a formal educational partnership with RIMS. Under the new partnership, Brokerslink’s partners and affiliates, and their risk manager clients, can attend RIMS-CRMP workshop, to support their formal and ongoing risk management education. A similar partnership with FERMA followed in 2025, with Brokerslink providing a 5-day preparatory workshop to brokers and risk managers, helping them to prepare for their RIMAP certification.

A defining step in global expansion

In July 2010 Brokerslink appointed its first ever employee, and CEO, Leonard Battifarano, a former AIG senior vice president, to oversee management and development of the network. This was a major coup for the network.

A CEO without no employees yet, Len’s strong reputation and international status, helped shift perceptions of Brokerslink, elevating its profile, and marking it as a serious player. His very involvement gave Brokerslink high visibility, enhanced its reputation and credibility. With contacts all over the international insurance world, he was to prove not only instrumental in formalising a strategic partnership with AIG but helping expand membership.

While he was the face of the initiative, Len was far from alone – he had the full support of the MDS team behind him.
Len, who was based in New York, soon boosted his team – bringing on board Houston-based Paul Bitner as managing director in 2011.

And in 2014 Corey Gooch was appointed as Brokerslink’s first director of business development, to work with Brokerslink’s broker members to introduce new clients and identify risk-related opportunities.

A footprint in Africa

Brokerslink added its first African partner in 2012, Alpha Assurances based in Morocco. This partnership was again thanks to the strong interpersonal relationships and human connections the network represents. Grégory Allard facilitated the introduction to Alpha Assurances Director General Youness Rhallam, the latter soon becoming a board member, and later, Africa Regional Manager.

The continent is now a major part of the Brokerslink network and strategy. As the first broking network to establish a footprint in Africa, the network has invested in growing its presence and supporting the increased insurance penetration
in the fast-growing market. As of 2025, Brokerslink is represented in 44 countries across the continent, with broking experts embedded in the diverse cultures the region representes.

The major transformation: from a European association to a company based in Switzerland

The next phase of Brokerslink’s evolution was to move from being what was in effect an informal association to be more business orientated whilst retaining its vision of not just being another network.

In the first years it was financed by its affiliates, its growth much supported by its own resources, such as fees. On a second phase, financing also came from sponsorship. 2009, the year when Brokerslink became a global broker at the Hong Kong conference, also marked something highly relevant: insurers took an added interest in this growing organisation and began
to support it, through sponsorship but also training, expertise and technology.

Now the board began to work on a new model, that would allow the transformation of an association under European Law into an equity based company. This was the moment to build something more formal, more business-oriented, an offensive network that would build business, enabling brokers to be shareholders with a financial interest, and help align them all. All affiliates were invited to invest in this new company. Those who did became Partners, the others continuing to be Affiliates. To pursue this new mission conditions would have to be created in order to reinforce the team, develop a strong brand as well as technology. While continuing to support the broker network, Brokerslink would develop its own book of business. Brokerslink adopted a phased approach to incorporation, a process designed to protect and enhance its model and vision.

In 2015, Brokerslink established a for-profit Switzerland-incorporated global broking company that would own the existing network, with a view to enabling it to better to compete with the broking behemoths and other networks.

Switzerland was the natural choice – as it was both very international, and very independent – with a robust legal environment.

Brokerslink Management was owned by the five key brokers, who, crucially, all shared the same vision. With a 20% share-holding each, they were MDS Portugal, Nova Insurance (China), Filhet-Allard (France), Cooper Gay (UK) and Crystal & Co (USA).

Phase two was the creation of Brokerslink AG, an entity 100% owned by Brokerslink Management.

It was Brokerslink AG, that was then subject to a complex private IPO, in 2016, opening the equity of the company to everyone in the network – but not on an equal basis. It was seen as key that the core five retain any final say to secure the Brokerslink vision – achieved through the issue of A and B shares.

The IPO was handled by a Portuguese Investment Bank – in what was a complex private IPO, one open to the whole network but with some conditions. No-one was able to buy more than 20 shares – and about 45 brokers decided to invest and become shareholders.

The IPO was a key strategic move, one designed to allow Brokerslink to raise its own capital – instead of debt – and invest in technology, the support team, and branding.

Reaching full maturity

In 2023 it was finally agreed to merge the two entities, and for all shareholders in Brokerslink to have the same rights, along with the creation of a new governance structure. This would position it for future growth and reinforce its dedication to fostering a collaborative ecosystem and harnessing the collective business acumen of its members.

The merger of Brokerslink Management AG and Brokerslink AG, with the latter becoming the sole legal entity, also saw the creation of an Advisory Board alongside a smaller, slimmed-down Executive Board of Directors.

Led by Chairman José Manuel Fonseca, the Board included prominent figures such as Steve Hearn, then Vice-Chairman of Brokerslink and CEO of Ed Broking; Edoardo Leusciatti, Grégory Allard, Jamie Crystal, Patrick Chan, Stefan Mülleri and Sunny Léons.

Building out the central team

An expanding membership of Partners & Affiliates and an increasing topline, enable Brokerslink to invest in its team, brand, and technology.

In 2013, Carla Alves became Brokerslink’s first Europe-based employee, as Operations Director. Five years later, Anne Collette was appointed as Director of Business Operations.

With the ongoing support of Liliana Baptista, initially splitting her time between MDS and Brokerslink, the network now had a dedicated European centre, and a team focused on building the Brokerslink brand, solidifying its international reputation and supporting the onboarding and ongoing management of the network.

2023 was a critical year for the central team, with three important hires. Mélodie Álvaro joined as International Business Co-ordinator, responsible for managing multinational accounts, nurturing relationship with strategic insurer partners, and developing Brokerslink’s Employee Benefits Practice. Roman Bembinov also joined Brokerslink team as Business and Partnerships Assistant, and Ivo Guimarães filled the newly created role of Data Specialist, charged with creating and managing Brokerslink’s data architecture, collecting, cleaning, and analysing data to extract meaningful insights and support business decisions.

There were two more additions to the team, in 2024 and 2025: Leonor Cunha as Marketing Assistant, and Inês Pinho as Digital Marketing Assistant.

Connecting the network

Brokerslink has consistently invested in building a strong, innovation-driven network that promotes collaboration and unlocks global business opportunities.

The launch of AGORA, its relationship management platform, clearly illustrates this commitment.
Introduced in October 2018, AGORA provides brokers with access to a product marketplace featuring a suite of bespoke coverages — including cyber, political violence and terrorism, kidnap and ransom, and aviation risks. These dedicated solutions were developed in collaboration with strategic insurer partners, specialist brokers, and risk and insurance service providers.

AGORA also hosts marketing materials, training resources, and a global contact database.
These tools support business development and marketing efforts by enabling Brokerslink partners and affiliates to quickly access local expertise from colleagues worldwide — fostering collaboration on new business opportunities and promoting the full potential of the Brokerslink network.

Building on its commitment to innovation and differentiation, in October 2023, Brokerslink launched Space B, its first dedicated multinational client management tool. Developed over five years in partnership with Swiss Re Corporate Solutions — one of the world’s leading providers of (re)insurance — Space B was designed to streamline the placement and administration of multinational insurance programmes.
This partnership is a clear testament to the network’s capabilities and global standing.

A strategic and differentiated ecosystem

Brokerslink started as a broker-only partnership but over the years has extended its network throughout the insurance and risk management ecosystem. Recognising the increasing value of a holistic risk management and consultative approach, specialised affiliates with expertise in business continuity, resilience, insurance law, loss adjusting, claims and more, have been brought into the Brokerslink community, giving brokers access to a range of specialised services to enhance their client proposition.

In 2022 for example, the B.Tech affiliate programme was established in response to the growing
importance of technology and innovation in broking. A first for any broking network, the new programme sought specialist technology companies from around the world to provide the network with innovative tools and solutions to progress in areas such as user experience, operational efficiency, data interpretation and cyber security assessment, among others.

Dedicated Practice groups shortly followed in 2023, with centres of excellence focused on Employee Benefits, Trade Credit and Risk Management. The practices each represent a knowledge and resource hub, led by internationally renowned experts in each field. Brokers anywhere in the world can rely on these hubs to find solutions for their clients’ unique challenges.

Risk Management Practice

The Risk Management Practice was initially led by the great Jorge Luzzi. Jorge’s passion for and expertise in risk management helped shape a practice dedicated to the provision of services across a range of risk management disciplines, including ERM, business continuity, insurance risk management, risk engineering, logistics & supply chain and cybersecurity.

With representatives from three of Brokerslink’s dedicated risk management specialists, RCG Consulting (part of MDS Group), Augustas Risk Services and B.Riley Consulting, the practice offers something unique to brokers, the dedicated support of some of the world’s leaders in risk management and consulting. Now led by Maurizio Castelli of Augustas Risk, the Practice has established itself as a compelling differentiator for Brokerslink.

Employee Benefits

Led by Mélodie Álvaro, the global employee benefits practice launched with three key aims: to support brokers in expanding their employee benefits portfolios, to win more business with comprehensive, tailored benefits packages and to increase their bottom line by tapping into the world of employee benefits, ultimately helping brokers to take a more mature and competitive approach to employee benefits.

Trade Credit

The third Practice Group was established in 2024 in direct response to broker partners and affiliates, who indicated that they were interested in expanding their remit to trade credit insurance. The Trade Credit Practice is supported by five regional Ambassadors: Miguel Carranza from Alliant for the Americas, Phillip Krinker from MDS Group for LatAm, Frantz Bouchereau from Filhet-Allard for Europe, Amine Bengraiou from Alpha Assurances for Africa, and Dongmin Lee at LK Insurance Services for APAC. Together the group shares trade credit expertise across the global network, as well as increasing access to credit and surety capacity, and enabling new opportunities for international business and greater market access.

Brokerslink has also cultivated important relationships with key strategic insurer partners around the world. These partnerships not only enhance its global broking capabilities but provide exclusive solutions for the network, enabling brokers and their clients access to dedicated products, exclusive wordings, and specialist knowledge from leading insurers, as well as access to innovative technology platforms and tailored insurance solutions. These evolving partnerships are central to Brokerslink’s value proposition, combining the strengths of independent brokers with the resources, products, and expertise of leading global insurers to deliver comprehensive risk management and insurance solutions worldwide.

Much more than a network

Brokerslink’s influence around the world is now beyond doubt, having also secured impressive growth. With a total premium volume of $75 billion, the network has firmly established itself as a major international player.

From humble beginnings, Brokerslink is now a major global broking company that empowers a collaborative ecosystem of brokers and risk management experts and firms. The network’s true differentiation remains however that same as it was from the very outset – the ability to strike the perfect balance between local independence and knowledge with global reach and strength. In the final analysis it is a network with a soul, a vision, a clear strategy, and a very positive future.