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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.

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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”.

A new hire for BMS highlights it commitment to achieving its vision

Insider Fac Magazine reviewed BMS’ expansion plans, prompted by the appointment of Steve Galleger as EVP. Formerly of Aon Benfield, Galleger’s responsibilities will include building BMS’ US reinsurance platform and developing customised reinsurance and risk management solutions for property, casualty and specialty insurers. Steve will start at BMS in December and will be based in the BMS US hub office in Minneapolis.

CEO Carl Beardmore is quoted saying: “This marks another important step in the development and extension of our US operations and is further evidence of our ability to attract key producers to join BMS.”

The article reviews how BMS continues to demonstrate its commitment to building its US platform and service offering to clients, with a number of new hires over the last few months, including two new senior hires joining the Analytics Team; Julie Serakos and Mike Larson.

For the full article please click here to go to the Insider Fac website

BMS appoints Cook to expand direct and wholesale platform

Independent London market (re)insurance broker BMS announced today that it has appointed Nick Cook, former Chief Executive of Glencairn, to the new position of CEO of its London market wholesale business. Cook will also become an executive director and – subject to FSA approval – will join the board of BMS Group Ltd.

Carl Beardmore, CEO of BMS Associates Ltd, the group holding company, commented: “Our strategy is to achieve some ambitious targets in the next few years, both through organic growth and acquisitions that will increase the breadth and depth of our production capabilities.

“We are delighted that someone of Nick’s calibre will be joining us to help us realise these goals. Nick’s appointment will further strengthen the group’s London based operations and broaden our offering to our clients. His track record in business development and experience of the London, US and International markets make him a tremendous fit with BMS.”

Nick Cook said: “This is a very exciting time to be joining BMS and become part of a growing and independent group. In a world of increasing consolidation, we share our primary goal of restoring choice and delivering a consistently high level of service to our clients and our markets.”

BMS expands US P&C capability

Friday 1 October 2010

BMS, the specialist insurance group, announced today that it has recruited John Faustman to extend its capability to provide reinsurance solutions for regional US insurance companies.

Mr Faustman will spearhead the opening of a new BMS office in Philadelphia to support this business.  Cover provided out of the new BMS office will include Property & Casualty (Excess of Loss and Quota Share), plus Property Catastrophe, Casualty Clash, Workers Compensation, Umbrella/Excess Liability and Equipment Breakdown programs.

Carl Beardmore, CEO of BMS Associates Ltd, the group holding company, commented: “We have been very clear that we have some ambitious goals for the group and acquiring new teams is a core part of that strategy. We are looking to extend both the number of risk classes in which we are active, as well the reach of our business”.

“We are delighted that John will be joining us, his arrival is an important step in this process and brings us closer to achieving some of our objectives. His track record for excellent client service and strong business development capabilities make him a tremendous fit with BMS.”

John Faustman joins BMS following 19 years with Guy Carpenter as team leader and a Managing Director of the Philadelphia operation.  Prior to that, John had 19 years of primary experience (actuarial, underwriting and sales) principally in the Mutual insurance segment.

Commenting on his appointment John said: “I am excited to join a fast-paced group with a clear vision, strong growth prospects and a commitment to support brokers who want to deliver consistently excellent service and restore choice in the marketplace.”