partner login

BMS News

BMS appoints Erin Vaccaro as Vice President

BMS Intermediaries Inc. (“BMS”), the independent risk and advisory firm, today announces the appointment of Erin Vaccaro as Vice President of its Philadelphia based Property and Casualty Treaty reinsurance division, reporting to John Faustman, Executive Vice President.
Erin joins BMS from Guy Carpenter, where she served as Vice President. During her eight year tenure at Guy Carpenter, Erin worked in both the Philadelphia and London offices across global Property, Casualty, Workers Compensation and Personal Accident treaty accounts. She is a graduate of the Temple University, Fox School of Business and Management, with a Bachelor of Arts degree in Business Administration, majoring in both Finance and Risk Management and Insurance.

John Faustman, Executive Vice President of BMS, said:

“I’m very pleased to welcome Erin to BMS’ Philadelphia offices. She joins our existing team who are dedicated to providing clients with a highly responsive service and market leading technical expertise. This is an aptitude that Erin has demonstrated throughout her career and she will make an excellent addition to the team.”

Erin Vaccaro said:

“I’m very excited to be joining BMS, whose brand is synonymous with sustainable growth, outstanding customer service and innovation in the face of complex client requirements. I look forward to getting to know the team and being a part of the company’s leading Property and Casualty reinsurance account.”

BMS Intermediaries CEO Andrew Bustillo has highlighted the importance of reinvention for reinsurers as the market continues to evolve

BMS Intermediaries CEO Andrew Bustillo has highlighted the importance of reinvention for reinsurers as the market continues to evolve, in Insider Quarterly’s Walk the Talk profile. The article discusses the positive culture and collaborative approach of BMS Inc., BMS Group, Minova and Pioneer Underwriters. Growth in facilities, particularly for challenging risks such as cyber and terrorism are also a focal point.

Download full article (pdf)

BMS Group CEO Nick Cook featured among a number of broker CEOs in the latest edition of Insurance Insider.

BMS Group CEO Nick Cook featured among a number of broker CEOs in the latest edition of Insurance Insider. ‘Lost Civilisations’ focuses on the challenges facing mid-tier brokers and how companies, including BMS Group are diversifying to remain competitive and continue to grow.

Download full article (pdf)

BMS Continues customer driven innovation with launch of new iVision Hazard Module

BMS Intermediaries today announces the latest enhancement to iVision, its award winning catastrophe risk management system, that includes a new Hazard Module with storm surge features to support heightened user experience and functionality.

The new Hazard Module consolidates the extensive hazard map layers already available to iVision users with storm surge inundation heights above ground level, as defined by the National Hurricane Center’s Sea, Lake and Overland Surges from Hurricanes (SLOSH) model for category 1-4 hurricanes. The ability to visualize these storm surge hazard layers benefits users in their portfolio accumulation management, growth strategies, underwriting and rating territory evaluation.

“iVision’s latest enhancements, which were implemented following feedback from our clients, continues to demonstrate our commitment to providing innovation to suit their business requirements. In line with the start of the 2015 hurricane season, the new storm surge and hazard module features empower our clients making them better equipped than ever to prepare for severe weather events.”,

says Julie Serakos, Head of Cat Analytics for BMS Intermediaries, Inc.
iVision, part of a suite of analytical tools and services offered by BMS, is an easy-to-use catastrophe risk management system that is accessed via the internet. Built on the latest GIS technologies, it helps today’s insurance companies reduce cost and increase efficiency when managing their catastrophic risk.

BMS Canada Risk Services appoints Shaun Johnston as Chief Operating Officer

Vancouver, Canada – BMS Canada Risk Services (“BMS Canada”) the Canadian arm of the independent specialist insurance and reinsurance broker BMS Group Ltd., today announces the appointment of Shaun Johnston as Chief Operations Officer (COO). He will report to Brian Gomes, CEO of BMS Canada, and will be located in BMS Canada’s Vancouver office.

Shaun joins BMS Canada from Aon plc (Aon) where he spent over a decade in the company’s Construction Services Group based in Vancouver. During his time at Aon, Shaun led a team of 20 specialists and grew a leading broking portfolio, providing risk management services, national and cross-border insurance programme design and management to some of western Canada’s largest and most diversified construction and property development companies.

Brian Gomes, CEO of BMS Canada Risk Services, said: “I am delighted to welcome Shaun who joins us both as COO for BMS in Canada and head of our Vancouver based operations. This is a very exciting time in our strategic expansion as we continue the significant growth of our businesses across Canada. I know, from working with him previously, that Shaun brings to BMS a reputation of being absolutely passionate about client service, working closely with his clients to deliver solutions to their most pressing business needs. He also brings to BMS his leadership in the provision of advisory, programme design and placement services for large complex construction projects having worked on some of western Canada’s largest construction projects over the years. I can not think of a more suited individual to drive growth of BMS Canada’s operations nationally. His leadership, experience and market network will be instrumental in the ongoing development of our position as a market leader.”

Shaun Johnston commented:

“I am very pleased to be joining Brian and the BMS Canada team, who have set a new benchmark for excellence in customer service and innovation in the Canadian market place. I’m greatly looking forward to implementing and leading our strategic expansion as we continue to build BMS’ operational capability across the country.”

Steve Korducki Joins BMS Capital Advisory, Inc.

New York, NY – BMS Capital Advisory, Inc., has appointed Steve Korducki, Executive Vice President of BMS Intermediaries, as General Securities Representative, effective immediately. Mr. Korducki currently serves on the BMS Intermediaries U.S. Executive Committee. as the leader of BMS’ Florida Strategy. In his new role he leverage his managerial and operational experience to assist the firm in the expansion of non-traditional catastrophe coverage solutions for BMS clients and new business prospects.

Together, BMS Capital Advisory and BMS Intermediaries offer clients access to the resources needed to achieve their strategic goals through reinsurance transactions or access to the capital markets.

Rom Braga, BMS Capital Advisory’s CEO said:

“We are guided by a group-wide partnership approach as we strive to deliver capital management solutions to our clients. With Steve on board, our clients now have access to another insurance executive with extensive industry experience, especially in peak catastrophe zones, such as Florida.”

Mr. Korducki commented:

“Risk management in catastrophe exposed regions, like Florida, requires front-end aggregate management strategies and controls, as well as cost-effective and efficient risk transfer capabilities, across traditional and non traditional reinsurance and capital markets. BMS is committed to the development of customized front-end risk management technology and the seamless integration of capital markets into the risk transfer process for our clients.”

Mr. Korducki is a Certified Public Accountant and a licensed Property and Casualty Agent. He is a graduate of Marquette University and holds securities licenses including the Series 7, and Series 63. He was an early pioneer in the development of catastrophe bonds and insurance linked securities.

BMS Group Launches Miami hub; Jose Astorqui Named as CEO, BMS Latin America

BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces the launch of its Miami Hub with the appointment of Jose Astorqui to the newly created role of Chief Executive Officer, BMS Latin America.

The new Miami office is part of BMS’s stated strategy to expand its proposition in selective international markets. BMS sees an attractive opportunity for growth in the region and will use Miami as its base to service business from Latin America, Central America and the Caribbean.

Reporting to Nick Cook, BMS CEO, Jose Astorqui will join BMS from Howden Insurance Brokers later in the year once his contractual obligations to Howden have been fulfilled. Jose has a strong track record of managing a portfolio across the region and has been based in Miami as Howden’s Director of Latin America since 2008.

Nick Cook commented:

“BMS are delighted to have secured a candidate of Jose’s calibre to lead our new Miami office. His experience will help accelerate our presence in the region as we seek to capitalise on Latin America’s rapid economic growth. The opportunities in this region are complementary to our growth strategy and Jose’s appointment is another exciting development for BMS.”

Jose Astorqui added:

“BMS have a compelling vision for growth and I am honoured to have been asked to lead their new venture in the region.”

BMS Powers iVision with Esri’s ArcGIS Platform

Redlands, California—February 10, 2015—Esri announces that BMS, the US reinsurance brokering arm of Minova Insurance Group, has integrated the ArcGIS platform into its award-winning carrier solution, iVision.

iVision is based on specific input from BMS clients on how they want to use a spatial analytics platform in their own workflow. Assisted by Esri partner GeoDecisions, BMS created the solution to provide carriers with a way to reduce claims handling expenses, manage large loss exposures, and understand a policy’s portfolio loss correlation before it is bound.

“As a broker, we aim to deliver exceptional service to clients,” said Julie Serakos, executive vice president, Catastrophe Analytics Department, BMS. “Esri’s ArcGIS platform has helped us achieve this aim: the provision of our analytics software, iVision, positions BMS as a market leader within the insurance industry.”

BMS will share how they are applying Esri solutions to take control of disruptive events at RAA’s Cat Risk Management 2015 in Orlando, Florida, February 10–12, 2015.

“Integrating Geography into Systems, Workflows, and Process”
Dan Madsen, Senior Vice President, BMS
Wednesday, February 11, 2015, at 4:30 p.m.
Breakout Sessions, Portofino Bay Hotel, Orlando, Florida

Visit Esri at RAA and learn how you can more accurately predict and prepare for catastrophes, provide the best service to your clients after an event, and understand your risk in the months to come. Learn more at esri.com/insurance.

BMS appoints John Hastings-Bass as Non-Executive Chairman

John Hastings-Bass, former Gallagher Chairman of International Development and JLT Group director, has been appointed Non-Executive Chairman and director of BMS, subject to regulatory approval. He will also chair the BMS Risk and Compliance committee. John has over 35 years’ experience in the insurance and reinsurance sectors.

He succeeds Christopher Hopton who remains Chairman of Minova Insurance Holdings, the London based insurance group that owns BMS Group.

BMS Group CEO, Nick Cook, said:

“John’s appointment to lead our board is another exciting development for BMS. He brings with him extensive industry knowledge, an unmatched level of global market insight and a track record of providing strategic counsel to growing businesses. I look forward to working with him as we make headway into 2015 and have no doubt that he will be instrumental and invaluable in our ongoing strategic planning and development. Everyone at BMS joins me in thanking Christopher Hopton for his support and wise counsel during a period of considerable development for BMS.”

Commenting on his appointment, John Hastings-Bass added:

“ I am very excited about joining this vibrant business. Nick and the BMS team have a clear strategy to take advantage of the significant opportunities in the market place. With the support of our shareholder, Minova Insurance Holdings, we have the financial resources to continue to strengthen BMS in our chosen markets.”

John began his career in Hong Kong with Jardine Matheson in 1976, later moving to London where he was PLC Director, Business Development of Jardine Insurance Brokers (JIB), working with the CEO to develop the corporate strategy that resulted in JIB’s 1997 merger with Lloyd Thompson to form Jardine Lloyd Thompson. In 1997, he became Group Board Director, CEO International Business Group, leading JLT’s strong growth across the UK, Australia and New Zealand, Asia, Europe, North and Latin American markets.

He joined Arthur J. Gallagher (“AJG”) in 2007, as Chairman, International Development, leading the Asia Pacific business. During his time with AJG, John was Chairman of AJG’s international energy business, Alesco and led the successful restructuring of the company’s Australian business and the creation of a Singapore office. He became MD, Underwriting & Development in 2013 before stepping down from the company at the beginning of 2015.

John remains Non-Executive Chairman of Novae Group plc, the leading property and casualty (re)insurance business operating at Lloyd’s.

BMS Group grows Specialty Reinsurance Division with appointment of Steven Herbert as Director

BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces the appointment of Steven Herbert as Director of its Specialty Reinsurance division, reporting to Andrew Hitchings, Managing Director.

Steven joins BMS from Cooper Gay & Co Ltd (“Cooper Gay”) where he was a Director of the Reinsurance division as well as Head of LMX and Offshore Energy. He began his career at EW Payne where he held various roles, later becoming Director of the Marine Reinsurance department. He has subsequently held senior positions at AJ Gallagher, the Park Group, and as a Director of AON’s Marine Reinsurance division.

Andrew Hitchings, Managing Director of BMS Specialty Reinsurance, said:

“I’m delighted to welcome Steven to the Specialty Reinsurance team. We see enormous potential in the specialty reinsurance market and Steven’s appointment demonstrates our commitment to this sector. His depth of understanding and experience will add value for our clients and play a key part in the division’s ongoing strategic development and growth.”