BMS Group, (“BMS”), the independent specialist
(re)insurance broker, today announced the completion of the significant equity
investment by affiliates
of British Columbia Investment Management Corporation (“BCI”) and Preservation
Capital Partners (“PCP”) first announced in June. All required regulatory
approvals have been secured.
staff of BMS maintain a significant shareholding in the company and CEO Nick
Cook and the executive management team remain unchanged. Representatives from
BCI and PCP have now joined the BMS board.
continued to expand its capabilities, with over 140 significant broking, analytical and actuarial
hires in the past 18 months including: Nick Moss (Global FD, JLT Re); Pete
Chandler (Deputy CEO US reinsurance, JLT Re); James Chicken (director, Price
Forbes & Partners); Gregg Holtmeier (managing director North American
casualty, Guy Carpenter); Neil Prior (Chief Executive, Priority Underwriting);
and Clare Whitlam (senior vice president, actuary, JLT Re). This expansion is
set to gather pace following completion.
commented: “With BMS’s long-term future as an independent broker
secured, BMS is poised for strong profitable growth. With the capital strength
of BCI and PCP behind us, we are expanding in the North American reinsurance
market and other high growth specialty and emerging risk lines that
consistently generate strong performance. BMS has become the alternative broker
of choice, with a full suite of analytical and actuarial capabilities to rival
and, in some areas, exceed those of the world’s biggest broking firms, making
it an attractive home for the industry’s leading talent.
major investment is a ringing endorsement of the London market and its
continued leading role in the world’s insurance markets. I am convinced that
our strategic partnership with BCI and PCP will be the gold standard for
long-term investment in global wholesale and reinsurance broking for years to
BMS were advised by Canaccord Genuity.
BMS Group is a leading independent
specialist insurance broker with teams of experts in the fields of reinsurance,
wholesale and direct insurance. For 38 years, BMS has provided comprehensive,
customised solutions in the fields of wholesale, reinsurance and direct
insurance, and capital advisory. Today, this experience and expertise, served
with a spirit of creativity, allows BMS to offer a full range of integrated
services. Designing individual, tailored solutions makes BMS the risk and
capital management advisor clients want to work with time and again.
For more information
about BMS please visit www.bmsgroup.com
With C$153.4 billion
of managed assets, British Columbia Investment Management Corporation (BCI) is
a leading provider of investment management services to British Columbia’s
public sector and one of Canada’s largest asset managers. We generate the
investment returns that help our institutional clients build a financially
secure future. With our global outlook, we seek investment opportunities that
convert savings into productive capital that will meet our clients’ risk/return
requirements over time. We invest across a range of asset classes: fixed
income; mortgages; public and private equity; real estate; infrastructure; and
For more information
about BCI, please visit www.bci.ca
Capital Partners (PCP) is a private equity firm specialising in the financial
services sector. It focuses on partnering with market-leading companies with
proven and resilient business models that have demonstrated strong growth. PCP
has been one of the most active investors in the specialty insurance
distribution market over the last few years having made investments in Ascent
Underwriting, Cove Program and Bay Risk Services.
information about PCP, please visit www.preservationcp.com