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Alejandro Ceron named BMS Latin America & Caribbean COO

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announced the appointment of Alejandro Ceron as BMS Latin America & Caribbean chief operating officer, effective immediately. Ceron will be based in Miami and reports to Jose Astorqui, CEO of BMS Latin America & Caribbean.

Ceron joins BMS with more than 28 years’ experience in international corporate management. Most recently, he was the founder and CEO of his own consulting firm in 2016, focusing on corporate governance and organisational growth strategy. Ceron had a long and distinguished career at Marsh & McLennan in the US and Latin America, where he led the HR and sales operation for Latin America between 2002 and 2016. Prior to that, he held various senior HR roles at Philips Lighting in the Netherlands and PepsiCo in Mexico.

Astorqui said: “BMS has been expanding its operations and increasing its brand recognition in Latin America and the Caribbean since 2015. With approximately $200 million in premiums brokered in the region in 2019, we are confidently launching the next phase of our Latin American expansion. Alejandro is a recognised operations expert and will contribute significantly to our growth.”

Ceron added: “BMS is well-recognised for its talented team and versatility in market conditions. The Latin American and Miami market has been changing dramatically and I’m excited to join BMS at this phase of development.”

BMS builds out US reinsurance analytics team with three hires

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announced three appointments to its US reinsurance analytics team in Philadelphia as the Group continues to enhance its analytical and actuarial services.

  • Nick Dranchak has joined as executive vice president, capital management of BMS Re US. He will be reporting to Kirk Conrad, chief analytics officer, effective immediately. Dranchak will lead the team’s ratings agency advisory services and be heavily involved in strategic business planning for clients. Before joining BMS, Dranchak spent over five years as head of strategic advisory at JLT Re.
  • Michelle McClane has joined as vice president, catastrophe analytics of BMS Re US, reporting to Julie Serakos, executive vice president. McClane brings nearly 22 years of catastrophe modelling experience to the team. Her most recent role was assistant vice president at Guy Carpenter.
  • Paul Blain has also joined as vice president, actuary of BMS Re US, reporting to Kurt Johnson, executive vice president. Prior to BMS Paul held actuarial roles at Guy Carpenter and the Medical Mutual Liability Insurance Society of Maryland.

Pete Chandler, President & CEO of BMS Re US, said: “Seamless analytics process is one of the key ingredients of BMS’s advisory services. Our cross-disciplinary team structure has proven to be successful in helping clients understand their risks and find the ideal solutions. As we continue to invest in our analytics platform, we are very pleased to welcome Nick, Michelle and Paul to the team.”

BMS Capital Advisory appoints Alex Orloff as Director of Capital Markets Analytics

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announces that Alex Orloff has been appointed as Director of Capital Markets Analytics at BMS Capital Advisory, the investment banking division of BMS. Orloff will report to Romulo Braga, CEO of BMS Capital Advisory, effective immediately.

Orloff will lead the development of qualitative investment diligence and quantitative market analytics for private and public issuers and institutional investors.

Orloff was previously founder of Sybella Research, a pioneer in investment research coverage of private issuers in the insurance industry. Prior to Sybella, Orloff has held a variety of executive positions as a senior analyst and portfolio manager in asset management (Lazard, Twelve Capital) and sell-side research firms (DLJ, Bank of America, Credit Suisse) over the course of his twenty year career.

Braga said: “With the financial backing from our institutional investors, BMS will continue to grow and invest in industry-leading resources, like Alex, to benefit our clients. Guided by a group-wide partnership approach, BMS Capital Advisory is a key capability in providing clients with cohesive capital management advice, and as a multi-asset investment specialist with broad experience in diverse capital market functions, Alex will further strengthen and professionalize our offerings.”

Orloff added: “BMS Capital Advisory has developed a credible track record of providing integrated risk and capital solutions, which I consider a key competitive advantage over industry peers. I am very much looking forward to joining this dynamic and independent company with its entrepreneurial culture, and believe we have significant opportunities to bring more investors to the space and reduce our clients’ cost of capital.”

BMS reorganises US reinsurance management team as expansion continues

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announced a series of management changes within its US reinsurance team as the intermediary continues its significant US expansion. This follows the completion in October of a large-scale investment into BMS by British Columbia Investment Management Corporation (“BCI”) and Preservation Capital Partners (“PCP”).

The following appointments have been made:

  • Pete Chandler has been appointed as CEO of BMS Re US, effective on December 9 and reporting to BMS Group CEO Nick Cook. He will oversee the overall operations of BMS Re US and focus on its strategic development. Chandler joined the team as President in May this year and is based in San Francisco.
  • Steve Korducki, currently CEO of BMS Re US, will transition to the role of CFO, based in Minneapolis. Korducki’s experience has been invaluable to BMS over the past year and, as a former CEO of P&C insurance companies, he will have a crucial role in managing the enlarged BMS reinsurance platform.
  • Andrew Bustillo, currently executive managing director of origination for BMS Re US, is also taking on the role of vice chairman, having previously held the CEO position. He will continue to drive production efforts and will be based in New York.

Nick Cook, CEO of BMS Group, said: “BMS Re US is primed for growth. With the backing of BCI and PCP, we are ready to fulfil our role as the independent reinsurance alternative to the big three. We have already made a number of significant appointments in the US and London, with many more hires of the industry’s top-tier talent planned.”

Chandler added: “BMS Re US has the best talent in the business, financial backing that is the envy of the industry and a client-centric, independent ethos that has consistently demonstrated it adds value to our clients, as they define it. With Steve and the executive team, I am very excited to take on the reins as we build out this business and create the best and largest independent reinsurance broker in the US.”

BMS launches Private Equity, M&A and Tax Insurance division with senior appointment

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announced the launch of a Private Equity, Mergers & Acquisitions (M&A) and Tax Insurance division, which will begin operating in the new year. Tan Pawar has been appointed Managing Director of the new team and will report to Ian Gormley, Managing Director of BMS Global Risks. Pawar will join BMS upon completion of contractual obligations.

Pawar’s appointment is the latest in a series of senior hires as BMS continues its expansion drive following the completion of substantial investment by British Columbia Investment Management Corporation (“BCI”) and Preservation Capital Partners (“PCP”).

Pawar most recently served as Senior Vice President at Paragon International Insurance Brokers Ltd, where he co-formed the M&A Insurance division in 2014. Prior to that, he was Divisional Director, International M&A & Transaction Services at Willis since 2011. A qualified corporate and M&A solicitor, Pawar has extensive experience in the space and will be tasked with developing BMS’s presence in the M&A insurance sector.

Gormley said: “BMS is growing at pace: we have the capital backing, global platform and broking talent to be the world’s leading independent insurance and reinsurance broker. We have identified a significant gap in the market to provide tailored products for corporate M&A transactions and will be expanding significantly in this space.”

Pawar added: “I am delighted to be joining BMS, a leading independent global broker backed by long term capital, at this exciting time in the Company’s development. There is significant need in the M&A insurance space for more bespoke and innovative solutions and BMS has the scale and firepower to deliver this to the M&A and Private Equity community.”

BMS announces completion of BCI and PCP investment

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.

Management and 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.

BMS has 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.

Nick Cook 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.

“This 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 come.”

BMS were advised by Canaccord Genuity.

About BMS

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

About BCI

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 renewable resources.

For more information about BCI, please visit

About PCP

Preservation 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.

For more information about PCP, please visit

BMS reorganises US analytics and actuarial management team as investment continues

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announced a series of management changes within its US reinsurance actuarial and analytics team.

  • Kirk Conrad has been promoted to the newly created role of Chief Analytics Officer at BMS and will oversee BMS’s US reinsurance catastrophe analytics and actuarial divisions. He joined the Group as Chief Strategy Officer in 2016 through BMS’s acquisition of Advocate Re.
  • Dave Spiegler, Chief Actuary, is retiring after a long and distinguished career at the end of the year. He will remain with BMS in a consultative role after his retirement.
  • BMS’s actuarial team will now report to Kurt Johnson, Executive Vice President. Johnson is currently based in the Group’s Minneapolis office.

Steve Korducki, BMS US CEO, said: “At BMS, analytical and actuarial capabilities are core to our strategy. We invest in the tools, talent and technology necessary to provide bespoke analysis and solutions that provide real value to clients, as our Catastrophe Analytics division did during the recent cat events. I am looking forward to continuing building out BMS’s analytics platform with Kirk, Kurt and Julie Serakos, who leads our Catastrophe Analytics team.”

“I would also like to thank Dave Spiegler for his dedicated service. Our actuarial team has grown to what it is today under his leadership and I am pleased he will be working with us in a consulting capacity for some time to come.”

BMS appoints Neil Prior as Director in the Global Risks division

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announced the appointment of Neil Prior as Director in BMS’s Global Risks division, reporting to Ian Gormley, Managing Director at BMS. The appointment is effective on September 16.

Prior will support the Global Risks division by developing market relationships and exploring new distribution channels.

Prior joins BMS with over 33 years’ broking, underwriting and MGA experience in the London insurance market. Most recently, he served as Chief Executive at Priority Underwriting, which he co-founded. Prior has also held senior roles at Sciemus Power, Ace Global Markets (now Chubb), JLT Group and Marsh Global Broking.

Gormley said: “Neil is a recognised leader in both underwriting and broking, with a deep understanding of the needs of clients and markets alike. I am excited that BMS continues to attract talent like Neil and welcome him to BMS.

Prior added: “BMS’s Global Risks division is a fast-growing team within the Group and the industry. Its employee-owned structure and notable track record of consistently bringing new risks to the market has attracted great broking talent. I look forward to joining the team and helping grow the business.”

BMS appoints Gregg Holtmeier as chief strategy officer

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announced the appointment of Gregg Holtmeier as chief strategy officer of BMS’s US reinsurance operations, reporting to Steve Korducki, US reinsurance CEO. The appointment is effective immediately. Holtmeier will join the BMS US Management Committee and will be based in San Francisco.

The appointment is the latest in a series of high-profile hires at BMS and follows the announcement of a substantial investment in the business by British Columbia Investment Management Corporation (“BCI”) and Preservation Capital Partners (“PCP”) in June.

With over 20 years’ experience in the reinsurance markets, Holtmeier joins from Guy Carpenter, where he was most recently managing director for North American casualty. He served as head of casualty for North America at JLT Re prior to the acquisition of JLT by Marsh & McLennan Companies. In the course of his distinguished career, he has held a number of senior roles, including SVP at Aon Benfield.

Korducki said: “BMS’s resolute independence and relentlessly client-centric approach has driven its success over the past years. With the long-term investment from BCI and PCP, we are well-placed to continue as the leading independent broker with global reach in the market and to attract the very finest talent.

”Entrepreneurial, experienced individuals like Gregg will contribute to our strategic expansion in North America and I am excited to welcome him to BMS.”

Holtmeier said: “BMS is uniquely positioned to differentiate itself through its culture and robust analytic platforms. I am very pleased to be joining BMS as they are clearly positioned as the independent reinsurance broker of choice.”

BMS partners with BitSight to provide cyber risk analysis services

BMS Group (“BMS”), the independent specialist (re)insurance broker, today announces a partnership with BitSight, the Standard in Security Ratings, to provide cyber risk analysis services to BMS clients across all lines of business as part of BMS’s consultancy offering.

BitSight’s market-leading security ratings platform provides the most comprehensive and trustworthy security performance information in the marketplace today. Approximately half of all global cyber premium is underwritten by carriers/markets who utilise BitSight. This is the first partnership for BitSight with a London market broker.

Ryan Jones, Head of Innovation at BMS, said: “As an independent, employee-owned broker, our focus has always been to add value to our insureds by developing a tailored and comprehensive offering. With that in mind, we tasked our teams and our internal Innovation Lab with developing initiatives to improve our clients’ understanding of risk and therefore provide better coverage for their needs. The expansion of our analytical capabilities was a key takeaway from our innovation programme, so I am very pleased to announce this partnership today.

Cyber risk, particularly the silent cyber exposures, affects all businesses and is a growing threat. Through this service, our clients will now be able to, regardless of what they are insuring, accurately assess the cyber exposure of their assets and choose insurance providers accordingly.”

Samit Shah, BitSight’s manager of insurance strategy and operations, said: “We are excited to partner with BMS to provide valuable cyber risk insights to their clients. Working with carriers around the world, including several in London for a number of years now, we believe providing transparency into security posture along all parts of the insurance value chain – carrier, broker, and client – is critical to accurate risk transfer decision-making.”

About BitSight
Founded in 2011, BitSight transforms how organizations manage cyber risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct M&A due diligence and assess aggregate risk. With over 1,500 global customers and the largest ecosystem of users and information, BitSight is the most widely used Security Ratings Service. For more information, please visit, read our blog or follow @BitSight on Twitter.