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Insurance Day – Alasdair Ritchie Reputational Risk Feature

MD of the BMS Wholesale, Professional & Financial Services Team – Alasdair Ritchie’s article discussing the hot topic of Reputational Risk featured in Insurance Day today.

To read the full article, click here.

Copyright of Insurance Day Magazine, reproduced with their kind permission, please click here to access the Insurance Day website

To read more about the BMS Wholesale, Professional & Financial Services Team, click here.

 

Monte Carlo Rendez-vous 2012 – BMS Press

BMS experts featured in a number of thought-leadership articles during Monte Carlo Rendez-vous 2012:

CEO, Carl Beardmore:

Global Reinsurance Daily Preview

Director – P&C, Simon Clutterbuck

Business Insurance:

Reinsurers embrace growing number of alternative funding methods

Casualty lines challenge reinsurers but offer long-term opportunities

Reinsurance costs not likely to increase at year-end renewals

SVP, Retro/ILW Team, Stefano Nicolini

Reactions: Surplus ILS capital used on ILWs

 

 

BMS wins US Captive Services award for Best Reinsurance Broker 2012

BMS are proud to have been chosen as the winner of the US Captive Services award for Best Reinsurance Broker 2012.

We have been privileged to serve as a reinsurance broker for the captive market for over 30 years.  Our clients have expressed the value they place on our innovation, expertise and personalized service.

This award further reflects the investment we continue to make in top talent and the relevant analytics and technology to support and grow our captive clients.

Alasdair Roe, Vice president of BMS and Captive specialist stated:

“We always look at our clients with the objective of recognizing and creating a reinsurance structure that best responds to their needs. Our continued investments are always for the benefit of our clients and I am pleased that we have been recognized by the US Captive Services for achieving this”

Nicola Golder Wins Insider’s Young Broker Honour

Congratulations to Nicola Golder who was voted ‘Young Broker Meteor of the Year’ at Insurance Insider’s inaugural awards ceremony held at the Royal Courts of Justice last night.

This honour is given to a person who at a young age has already made a significant contribution to the sector, demonstrating commitment, innovation and a solid contribution to the future development of the global (re) insurance sector.

The award judges were impressed with what Nicola has achieved at such an early stage of her insurance career and in making their choice, gave specific reference to the testimonials they received from both clients and underwriters, a selection of which read as follows:

Coast Capital had the good fortune of meeting and beginning our business relationship with Nicola whilst she was still early in her career. We are benefiting from Nicola’s meteoric personal and professional growth and her unbelievable work ethic, intelligence and quiet confidence.

As one of Canada’s largest personal lines binding authorities, it does not take to much imagination to see the challenges Nicola has in brokering not only our large personal lines program, but also our high value home and commercial binding authorities and open market placements. And yet she is brilliant, always looking to find the right balance and demonstrating the ability to adjust to continuously changing market conditions.

Our continued success in the Lloyd’s market is clearly linked to not just her professionalism, but also her perseverance, creativity, intelligence, communication skills, and integrity. Nicola has our complete trust and respect and we are sure she also has the trust and respect of the whole Lloyd’s market.”

Rick Parent, President, Coast Capital Insurance Services, Victoria Canada

Nicola is a consummate professional who has been an integral part of our broker team, helping grow and improve our insurance product line. Her charming way of being makes our work with BMS, in sometimes difficult times, always a pleasure.”

Trish Taylor – President & Founder of New Life Agency Inc, California USA

Nicola is always impeccably prepared when she comes in to broke to us. She considers the various angles and what our issues are likely to be and has formulated her arguments before presenting her risks. She will push hard to get what she wants for her clients, but has a good feel for when to back off and take what’s on offer. All in all it’s a pleasure doing business with her.”

Jonathan Powell, Senior Underwriter, Hiscox.

I have witnessed Nicola in many different business settings, whether it is serious renewal discussions, contentious debates or light-hearted client dinners and she has always demonstrated the ability to monitor a situation and adjust accordingly. Her natural ability to skilfully interact with clients of all ages and interests allows relationships to flourish and business to flow. Although this may be the obvious way to behave, it actually takes a professional to continually pull it off.

I have found Nicola well versed in the subject matter of the risk and always has clear expectations of what she wants to achieve whilst at the Box. Nicola also makes it apparent if she does not leave with all her objectives having been met. Nicola also has the ability to have prepared answers to my questions even before I have asked them. She most certainly understands the class and is always highly commercial in both client and underwriters’ interests. It’s a genuine pleasure to have her broke to me.”

Paul Blunden, Medical Underwriter, Kiln Group

We’re proud Nicola has been recognised for her exemplary work ethic, commitment and overall excellence – well done Nicola from everyone at BMS!

Industry Loss Warranty Pricing – AM Best

BMS’ Stefano Nicolini, senior vice president with BMS Retro, featured in David Pilla’s article – ‘Curbing Enthusiasm: Industry Loss Warranty Pricing Was Set for Sharp Gains After 2011 Losses.’

The article reflects on the mild catastrophe year and the effects on the ILW pricing. Stefano talked about how there was a lot of loss activity in the beginning of 2012, driving higher expectations for the ILW market. He also discussed how if the rest of 2012 plays out without large loss activity, he thinks clients will be looking to buy addition protection in the fourth quarter, especially after the shock losses from the Thailand floods at the end of 2011.

Click here for the full article, subscription required.

Click here to access the BMS Retro/ILW information.

BMS appoints Chuck Hewitt to further propel its US platform

Independent global broker BMS today announced that Chuck Hewitt has joined its US based reinsurance operations as a senior producer, Executive Vice President and member of its US Leadership Team. He will divide his time between Boston and BMS’s New York office.

Chuck Hewitt commented:

I am delighted that BMS has invited me to join their team. They have demonstrated a willingness to invest in the analytical, modelling and technology platform needed to support the creativity and work they perform for their clients. I am excited to be joining my fellow US and UK colleagues and to help build a world class operating model. BMS offers a strong, independent option in the reinsurance business; it listens to its clients and prospects and delivers custom solutions to their needs and challenges.”

Carl Beardmore, CEO, added:

I am thrilled that Chuck is joining us. He is an experienced and proven producer of business and has an excellent reputation in the sector – often being referred to as one of the best brokers clients have ever dealt with. His extensive know-how will be a great addition to our already considerable pool of talent. This marks yet another important step in the development and extension of our US operations.”

Hewitt has had a long and distinguished reinsurance career. He spent over 28 years at E. W. Blanch / Benfield, initially in the Chicago office and then opening up the EWB Boston office in 1992, building it into a highly respected and strong revenue generating operation. In 2007 he left to join Guy Carpenter as co-head of their Eastern Region, where he recreated the Boston dynamic, produced a sizeable book of brokerage, and became a founding member of the Executive Strategy Team focused on working with clients and prospects on their strategic issues and challenges.

Urban Friesz – Claims Special Insurance Day

Urban Friesz, BMS’ VP of Claims, featured in the Insurance Day Claims Management Special Report.

His article, Claims compliance in a global and mobile world, discusses the pros and cons of working with a third party claims administrator and how factors such as globalisation affect decisions to stay in-house or not.

To read the full article, click here.

Copyright of Insurance Day Magazine, reproduced with their kind permission, please click here to access the Insurance Day website.

Rupert Alabaster – Cyber threats and Data Management

Rupert Alabaster’s, Director BMS Professional & Financial Services, thought-leadership piece discussing Cyber threats – securing your data – featured in the Insurance Day Data Management Special Report.

To read the full article click here.

Copyright of Insurance Day Magazine, reproduced with their kind permission, please click here to access the Insurance Day website.

Go to the BMS Intangible Asset Protection site to watch in-depth expert videos and case studies, including ‘Data Protection & the Healthcare Industry’.

 

BMS hires Glenn Kerr to spearhead its push into Australia and the Asia-Pacific region

BMS Group, the leading independent global broker, today announces that it has achieved another major strategic goal with the appointment of respected Australia-based facultative broker, Glenn Kerr.

Kerr, formerly of Aon Benfield, will join the BMS wholesale team, led by Nick Cook, upon completion of his contractual notice period. He will be based in Sydney and his role will be to lead the continued growth of BMS’s wholesale and facultative business in the Asia-Pacific region.

BMS Wholesale CEO, Nick Cook said:

As we continue the expansion of our wholesale and facultative platform, I am delighted that we have secured an individual of such high calibre. Glenn is a highly respected broker and producer and will be key to the growth of our business in the region.

Glenn Kerr said:

Having initially been attracted by its independence, I am thrilled to be joining BMS at such an exciting time. The Asia-Pacific region is a growing area and has enormous potential for both facultative and wholesale business. I am pleased to be leading the charge on behalf of such an innovative and entrepreneurial company.”

BMS launches exclusive initiative to provide clients with innovative predictive modeling

BMS Group, the independent global broker, today announces that it has reached an agreement with leading US actuarial specialists Pinnacle Actuarial Resources, Inc. (Pinnacle) to provide predictive modeling to its clients.

Specialist predictive modeling has become an essential element in any leading-edge analytics tool kit and BMS has sought to ensure it can offer this innovative solution to its clients. Over the last 18 months BMS has significantly enhanced its Analytical Services division. Incorporating predictive modeling into its offering will allow BMS to give its clients a powerful range of tools to enhance their ability to assess and price risks, as well as improve claims and underwriting processes, leading to enhanced growth and profitability.

BMS’ Analytical Services team will work closely with Pinnacle, who will supply predictive modeling analyses and implementation support, as appropriate, to BMS clients. This joint venture is exclusive to BMS, as the only reinsurance intermediary Pinnacle is partnering with to offer its predictive modelling expertise to their primary company clients.

CEO, Carl Beardmore said:

We are proud to be able to make another industry-leading expert solution available to our clients. This exclusive relationship with Pinnacle will ensure our Analytical Services offering is one of the best in the business, providing clients with a tailored, cutting-edge package to meet their actuarial needs.”

Dave Spiegler, EVP and Chief Actuary, said:

BMS is committed to enhancing our analytical capabilities to offer our clients everything they expect and more. We look forward to working with experts of Pinnacle’s caliber, giving our clients the very best in predictive modeling services allowing them to better meet their growth and profitability goals. When BMS becomes your broker, our analytics team becomes part of your team and now Pinnacle will be part of that team too.”

Roosevelt Mosley, Principal and Consulting Actuary at Pinnacle, said:

We’re excited to be working with BMS to assist their clients in their predictive modeling needs. Whether it’s developing pricing models and rating relativities, evaluating new rating factors, analyzing underwriting processes, optimizing claim processes or developing claim fraud detection models, we’re ready to bring deep and extensive experience to BMS’s clients.”