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BMS News

What makes BMS stand out in the crowded reinsurance arena?

It’s the passion, creativity and care we bring to every aspect of our client relationships. And when you experience it, you’ll know.

Want to feel it? Watch the video


New BMS creative brings brand to life at NAMIC Annual Convention 2013

What makes BMS the reinsurance advisor clients want to work with time and again? Creative, custom solutions and a caring, entrepreneurial spirit. We think fast, but never wing it.

Want to feel it? Play the Video:


ILW pricing falls against alternative rivals – Reactions

BMS’ Stefano Nicolini, SVP of our Reinsurance – Retro/ILW division featured in Reactions Magazine online discussing ILW pricing falls against alternative rivals and how the competitive environment has cut pricing on industry loss warranties in 2013.

Click here to read the article (registration required).

Incorrect cargo reporting – Tim Paske, Reactions Magazine

BMS’ Marine and Energy expert Tim Paske was quoted in a recent Reactions Magazine article discussing  Insurers worries over incorrect cargo reporting.

Reinsurance Property and Casualty Director, Paske commented on the difficulty in quantifying aggregate dollar cargo exposures per vessel due to the reporting process.

To read the full article, please click here (registration needed)


Video – Over 100 years experience, BMS’s P&C offering

BMS’ Larry Cantwell talks about the Property & Casualty offering and why, with over a 100 years of experience in the team and the UK/US platform, BMS offers something just a little bit different.


NAMIC Management Conference – Leading by example

The NAMIC Management conference bills itself as a conference built by leaders for leaders. With that guiding principle in mind the sessions tend to focus on operational strategy, industry trends and leadership growth. The first day began with three “Power Sessions”.

Power Session one, Industry & Weather Trends, was lead by Mike Smith from Accuweather. He began by reviewing 2011 – which was the worst weather year in US history. The most unusual events being the tornados, many of which were “metronados” tornados that struck in cities, causing severe damage. He pushed for the insurance industry to campaign for hurricane level building codes in tornado prone areas and the enforcement of building codes already in place, which would save both lives and property.

Power Session two, A Broker’s Perspective on the Reinsurance Relationship, was lead by James Kent of Willis Re. He too focused on how bad 2011 was from a Reinsurance point of view, with between 40% and 50% of the 2011 losses paid by reinsurers. 2012 is shaping up to be a much better year for both the primary insurance carriers and the reinsurers, with good results for the first two quarters of the year. He expects Reinsurance pricing to continue to be flat to down barring any major catastrophe.

Power Session three, Economy, was lead by Dr. Robert Genetski. He reviewed the current economic situation from six viewpoints: US economic weakness, the financial collapse of 2008, the Euro debt crisis, the US debt crisis, financial and economic outlook, and the upcoming November elections.

All in all, I found these sessions provided a great deal to consider and gave us all a thought-provoking start to the conference. Tomorrow is devoted to breakout sessions and Wednesday returns to the three Power Session format.

To read more about the BMS P&C offering, click here.

AM Best Video MPL Market – Mike Hollenbach & Sean McDermott

BMS’ EVP Specialty Casualty, Mike Hollenbach and SVP, Sean McDermott featured in an AM Best Video discussing topics around the state of the medical professional liability market, including what consumers are talking about and the implications of the Affordable Care Act on physicians’ practices.

Click here to view the full ‘Regulatory Preview’ video  on the AM Best Video Center.

Click here to view the Specialty Casualty Team Offering

BMS opens New York office

Video: Carl Beardmore discusses the opening of the New York office – which is key for BMS and its continued expansion of the US platform.


BMS opens New York office

Leading independent broker BMS today announces it has opened an office in New York City. The Park Avenue office will be the base of Group CEO, Carl Beardmore, who will now be spending the majority of his time in the United States. Larry Cantwell, Executive Vice President, will be the lead producer.

This development sees BMS further strengthen its position in North America where it continues to grow its reinsurance business. Over the past 18 months it has invested in a number of key personnel both in the UK and US, particularly in its modelling and analytics offering. BMS is also in the process of moving the servicing of all reinsurance accounts from London to Minneapolis.

Carl Beardmore commented:

Opening an office in Manhattan is vital to the continued expansion of our US platform to complement our strong London position and build a truly unified reinsurance platform. The new office will primarily be a production centre, led by industry veteran Larry Cantwell. However, it is also designed to be a hub for all our markets, and any staff or clients who want to use the facilities will be made very welcome.

For me, the most important thing is that we demonstrate our continued commitment to our clients. We have invested heavily in our US offering, both in our modelling and analytics capabilities, and we are in the process of moving the servicing of all reinsurance accounts from London to Minneapolis. Everything we do is for our clients’ benefit, and to make it easier for them to do business with us, which is why I’m moving to the US and why we’ve opened this impressive new office in New York”.

The 3rd Annual Reactions North America Conference, Risk and Capital Management Issues, New York, September 27th 2011

There were some stimulating panel discussions at this conference, the highlight being the CEO panel, which had a great line up. I particularly enjoyed all the discussion around “when will the market turn.”

One panel member described the market as a “not yet” market, that there have been pockets of change but nothing has as “yet” had enough impact. Another panel member cautioned us about blaming others/other industries for our results.

Of obvious interest to me, as EVP of BMS’ Specialty Casualty team, was when one panel member expanded on the casualty market commenting that the casualty business looks surprising good – in spite of the depressed rate levels.

I also enjoyed the CFO panel where one debate focused on the benefits of reinsurance and whether or not it is felt the capital markets sector will displace the demand for reinsurance. One panel member was quick to comment that reinsurance does more than provide capital for their company, that it helps to de-risk as they build a diversified book and they value the reinsurance partnership with key players in the industry.

The keynote speaker raised some valid discussion points when he pushed thinking around the question; “Are we driving people/companies out of the market?” based upon the increased retentions. Furthermore, he talked about growth opportunities in this challenging market and how the real money is in the “specialties” (Practice Groups by Industry/Product). He concluded with the fact that opportunity lies in differentiated talent, that the focus of companies, needs to be on obtaining the best talent – then lead, motivate and retain them.