BMS continues energy expansion with senior hires

BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces the appointment of Kristina Juul and Richard Force as divisional directors in BMS’s growing energy division. Both will report to James Chicken, newly-appointed managing director, energy, who joins BMS in August, following completion of contractual obligations.

Kristina Juul will work closely with Charles Bowring, chairman of energy at BMS, on the servicing and placement of energy liability accounts once Bowring is in post, also following completion of contractual obligations. She joins BMS from i4Intelligence Limited, where she provided advice on the insurance market to H5, an AI and data analytics service. Prior to that, she was vice president in the Global Energy division and leader of the energy liability team at Lockton. She joined Lockton from Alesco, where she was an energy broker and risk analyst.

Richard Force joins from Price Forbes, where he served for 14 years, most recently as senior account executive in the energy division. He will provide senior technical resource to the downstream property team at BMS, as well as placing renewable energy business.

Ian Gormley, director of BMS Group said:

“The establishment of an energy division is a key plank of our growth strategy at BMS. We have identified substantial opportunities in the sector, as demand from clients grows for a broker that will provide sharp, tailored and focused solutions to the risks they face. We are assembling a growing team of recognised market leaders as part of our expansion into the energy sector, and I am delighted that such high-calibre individuals as Kristina and Richard will form part of our expert team. I would therefore like to welcome them to BMS.”

BMS Innovation Labs launched in transformation drive

BMS Group Limited (BMS), the independent specialist insurance and reinsurance broker, today announces the launch of BMS Innovation Labs, a platform to drive change and innovation within the company and the wider insurance industry.

BMS Innovation Labs will focus on how to deliver the best possible outcomes for clients using all available tools, including new technology and business approaches that can add value to and enhance BMS’s offering. BMS Innovation Labs will be employee-led, providing a forum for individuals from across the business to contribute to the development of innovative and disruptive approaches and technologies.

The launch event for BMS Innovation Labs was held on the morning of 15th March at the Grange City Hotel and focused on further strengthening BMS’s client-centric, design approach to solving complex business problems and driving innovation to the benefit of the businesses BMS supports. BMS employees were introduced to the Design Thinking tools and techniques developed by Pancentric Digital, a specialist in disruption in insurance.

Nick Cook, CEO of BMS Group, said:

“The launch of Innovation Labs epitomises BMS’s client-centric thinking and approach, which has driven growth in recent years, challenging industry norms and employing technology that is rapidly changing our industry. Through the creation of BMS Innovation Labs, we are declaring our intent to remain at the forefront of innovation in our industry as we deliver further targeted, bespoke solutions to our clients.”

BMS makes trio of senior hires to form new energy division

BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces the formation of a new energy division with the appointment of three senior energy brokers.

Leading industry figures James Chicken and Charlie Bowring become managing director and chairman of the new division respectively, and Sebastian Graham joins as a director.

James Chicken joins from Price Forbes where, as a director, he has spent the last 15 years specialising in power & utilities. He is a proven leader and producer with extensive experience in the global energy market. As leader of Price Forbes’ downstream energy, power and renewables practice he developed and managed a global wholesale account heavily focussed on the US. In recent years Chicken expanded the geographic footprint of the account beyond the US to EMEA and Asia Pacific markets.

Charlie Bowring has been in the insurance markets for over 40 years and has, for the last 20, specialised in the downstream energy and power markets. He began his career as a broker with CT Bowring Reinsurance Brokers, worked in London and New York with Marsh McLennan, was a founder member of Agnew, Higgins & Pickering and has, since 2010, been a director of Price Forbes.

Sebastian Graham gained his master’s degree in mechanical engineering in 2009 and joins from Miller Insurance Services where he specialised in power & utilities, renewable energy, midstream and downstream energy.

The division will report to Ian Gormley, board director of BMS Group and the three appointees will join upon completion of contractual obligations.

Ian Gormley, director of BMS Group said:

“BMS has an established presence in the energy reinsurance market and we have had ambitions to make the logical step towards the direct energy markets for some time, but were determined to do so only with the right people. BMS’s reputation for independence has been a key factor in our ability to attract three of the market’s most respected professionals to our team. I look forward to welcoming them and working together as we build this new division, which will be heavily focussed on US and international growth.”

Nick Cook, chief executive officer of BMS Group added:

“The development of a new energy division led by some of the market’s leading practitioners is a strategic investment for BMS as we continue to achieve significant growth in our core markets in the US and internationally. We fully expect the division to expand in the relatively near term as we invest further to bring additional expertise on board for the benefit of our growing client base.”

BMS Canada wins national award

We are delighted to announce that BMS Canada Risk Services’ Ottawa-based team has won the Insurance Business Awards 2017 for ‘Outstanding Customer Service by a Brokerage.’

BMS was one of 12 finalists nominated. Insurance Business said:

“This award acknowledges a brokerage with a proven track record of providing their clients with superior support, and an industry player that has mastered that service and is number one on all fronts.”

This is the team’s first time entering an awards event, after being nominated by several clients.

The team started in 2012 and now provides coverage to more than 500,000 healthcare and regulated members through 70+ associations across Canada. It has 100% client and staff retention.

A huge congratulations to BMS Canada Risk Services CEO Brian Gomes and his team.

BMS Capital Advisory sole investment banker in Coverys’

New York, NY – BMS Capital Advisory (“BMS CA”) today announced it acted as sole investment banker to Coverys in its intended acquisition of R&Q Managing Agency Limited (“RQMA”), a fully authorized Lloyd’s third party managing agency. RQMA is part of Randall & Quilter Investment Holdings (R&Q), a non-life insurance investor, underwriting manager, captive manager and service provider.

The acquisition is subject to regulatory approval by Lloyd’s and the Prudential Regulation Authority.

Gregg Hanson, CEO and president of Coverys, said: “This acquisition shows our determination to further strengthen our client offerings, and we are delighted to have achieved this milestone with help of expert advice from our partners at BMS CA.”

Romulo Braga, CEO of BMS CA, said: “This transaction highlights the continued attractiveness of Lloyd’s to capital investors. Assisting Coverys in establishing its London market presence is a high-profile achievement for our advisory business, and we are therefore very pleased to be able to demonstrate our firm’s ability to deliver cross-border, integrated advice and institutional knowledge. ”

BMS Group Limited appoints John Hoare as Managing Director, BMS Harris & Dixon Marine

BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces the appointment of John Hoare as Managing Director of BMS Harris & Dixon Marine, BMS’s specialty marine division with immediate effect. John succeeds current Managing Director Tony Pryce, who will remain Chairman of the business. John and Tony will work closely together on developing the expanding portfolio of BMS Harris & Dixon Marine.

John brings 32 years of experience in the marine insurance industry. He most recently served as International Marine Director at H. W. Wood Limited, having joined H. W. Wood from Heath Lambert. He began his career in the insurance industry at Sedgwick in 1985.

Tony said: “John’s appointment comes at a vital moment for BMS Harris & Dixon Marine. We have been steadily growing our book of business, and John will play a crucial role in the continued build-out of our capabilities. It has been a privilege to lead the BMS Harris & Dixon Marine division for almost thirty years, and it is now time for an orderly and managed transition to a new generation of leadership. John embodies the values of client service we hold so dear at BMS, and I therefore look forward to working with him to ensure the continued success of the business.”
John said: “BMS Harris & Dixon Marine has an unparalleled reputation in the marine market and has gone from strength to strength in recent years since its integration into the BMS Group. With ambitious plans and an expanding portfolio, BMS Harris & Dixon Marine will be an absolute pleasure to lead. I am delighted to be joining BMS Harris & Dixon Marine and working with as experienced a figure as Tony.”

BMS Capital Advisory Facilitates Capital Raise by United Insurance Holdings Corp.

BMS Capital Advisory, Inc. (“BMS CA”) announces the successful completion of a $30.0m private placement of senior notes issued by United Insurance Holdings Corp. (NASDAQ: UIHC) (“UPC Insurance”) to funds managed by Twelve Capital Group, AG (“Twelve Capital”) an independent investment manager specializing in insurance investments across different asset classes.

Working proactively in the (re)insurance marketplace, BMS CA has quickly built a practice of identifying strategic capital needs from issuers, and originating effectively-priced solutions from diverse sources: traditional reinsurers, collateralized markets, ILS managers, and other institutional investors.

Romulo Braga, CEO of BMS CA, commented:

“We are pleased to have facilitated this successful issuance between a company primarily focused on financial stability for its policyholders and a dynamic source of capital, actively working to respond to the demands of the marketplace and providing flexible capital solutions.”

John Butler, Head of Investment Management at Twelve Capital added that

“Our Private Debt offering supports insurance companies in their quest to grow, strengthen and establish a more efficient capital base, and we are proud that UPC Insurance and BMS have chosen us as their partner for this transaction.”

He added,

“There is substantial potential for debt solutions for small- and mid-cap insurers, and this transaction is a prime example of the types of financing capacity that can be provided by Twelve Capital.”

The proceeds of the offering will primarily be used by UPC Insurance for general corporate purpose and to support the Company’s growth.

BMS CA is a broker-dealer registered with the SEC and a member of FINRA (www.finra.org) and SIPC (www.sipc.org).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

BMS Group Limited launches Construction Unit with senior appointments

BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces the launch of a new Construction Unit. Philip Maloney joins BMS as Managing Director to head the newly created unit, reporting to Ian Gormley, Director.

The team will focus predominantly on US and International CAR and EAR projects, amongst the other facets of Construction and Engineering insurance/reinsurance.

Maloney brings 21 years of experience in the construction and engineering sector. He most recently served at THB London, as Director of Construction and Engineering. Prior to that he was Partner – Construction and Engineering at JLT Re and previously Global Head of Construction and Engineering at AonBenfield Fac for six years. Philip will be joined by Scott Davison, previously a Partner within international Construction at JLT Specialty Ltd and Henry Morgan, also from international Construction at JLT Specialty Ltd.

Ian Gormley said: “Expanding our construction capabilities enhances the suite of products that we can offer to our existing and future client base. Phil Maloney is one of the leading lights of the broking sector, with a consistent track record of delivering growth and developing a successful book of construction business and we are convinced that he, alongside Scott and Henry, will prove valuable additions to BMS.”

BMS Re US announces acquisition of Advocate Reinsurance Partners, LLC in North America expansion

BMS Intermediaries, Inc. (“BMS Re US”), the independent specialist insurance and reinsurance broker, today (08 September 2016) announces the acquisition of Advocate Reinsurance Partners, LLC (“Advocate Reinsurance Partners”). Terms of the acquisition are not disclosed. Scott Brock, managing partner at Advocate Reinsurance Partners, will join the BMS Re US board.

Advocate Reinsurance Partners, founded in 2010, is a privately-held reinsurance intermediary for middle-market insurance carriers, captives, risk retention groups and other specialty insurance operations. Advocate Reinsurance Partners, headquartered in Dallas, Texas, operates primarily in the midwest and southeast of the United States, where they have established a significant presence in the Floridian and Texan markets.

Dane Douetil, CEO of Minova Group, said: “Advocate Reinsurance Partners is a long standing producer of business to our wholesale broking business and this acquisition is a natural extension of an already excellent working partnership. It is also a clear demonstration of our long term commitment to the US markets and provides significant scale and increasing relevance to our growing customer base.”

Andrew Bustillo, CEO of BMS Re US, said: “Advocate Reinsurance Partners has a proven track record of excellence in business origination and a robust brokerage pipeline. Combining the fantastic sales team at Advocate Reinsurance Partners with BMS’s extensive analytical and operational capacity will extend our geographic reach and further strengthen the high level of risk and advisory service we bring to our clients and carriers. I am delighted to welcome Scott and the Advocate Reinsurance Partners team to BMS.”

Scott Brock, managing partner of Advocate Reinsurance Partners, said: “We know the BMS team very well and we share similar cultures and values. We have great respect for their technical expertise, broad suite of capability and global distribution network. As a result, we know that this step will bring considerable benefit to our client base.”

BMS launches Melbourne-based affinity broking operation

BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces the launch of a new affinity broking operation focused on Australia and New Zealand. The team will be based in Melbourne and led by Shamus Breen, working closely with BMS global affinity practice leader Brian Gomes.

Breen joins from Marsh, where he most recently served as national manager for consumer affinity. He brings more than twenty years of experience to BMS, having progressed through a variety of roles at Marsh including national manager for specialty and national manager for motor.

David Battman, CEO of BMS International, said:

“I am delighted to announce the launch of our Melbourne office, building on our existing wholesale and facilities broking offices in Sydney and Brisbane.

Globally, there is a growing market for our industry-leading online sales technology, which is serving us so well in Canada. By introducing this proven technology platform to Australia and New Zealand, using our new base in Melbourne, we are demonstrating our commitment to a market with significant growth potential. Shamus brings a wealth of industry knowledge and market contacts to the new BMS operation and we are convinced he will contribute significantly to the growth and development of our regional business.”