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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.”

Article – Analysis of PIAA members 2011 reported data

David Spiegler, Executive Vice President and Chief Actuary at BMS appears in the Physician Insurer Magazine, Second Quarter edition.

David talks about the findings of the BMS analysis of the 2011 data reported for the PIAA group of member companies.

Click here to read a PDF of the Article

“Reprinted from the Second Quarter 2012 issue of Physician Insurer Magazine, Physician Insurers Association of America. Copyright, 2012.”

Click here for more information on the BMS Analytical Services Team and Products.

BMS Charity Quiz 2012

On 2nd May 2012, BMS hosted a charity quiz night and auction in aid of the Hackney Schools Mentoring Programme. Staff from within BMS have been involved with the charity for the last two years, acting as business mentors to Year 10/11 children from schools in Hackney. We were approached by the charity to assist in raising funds after they lost 45% of their annual budget when local authority funding was completely cut.

The event was held at the Abbey Bar in the Minories and was attended by 25 teams totalling over 150 people. The teams were made up of staff from within BMS, our markets, IT companies, law firms; and teams from ELBA and the Lloyd’s Community Programme. Auction and raffle items were donated by teams and individuals within BMS; CMS Cameron McKenna; rugby clubs and local high street businesses.

A great night was had by all with the winning team, The InQuizables captained by Steve Ferns, beating Faraday’s team by just half a point! Each winning team member received a bottle of champagne. A fantastic amount of money was raised – almost £3,500 in total. The largest amounts raised on the night were £475 for a 3 night stay in a private villa in Portugal (a raffle prize donated by BMS Risk solutions and won by Hannah Payson from LCP); £250 for a sailing trip for the day including lunch for 4 people (an auction item donated by Pioneer Underwriting and won by Ben Churney from Sequel); and £110 for a case of 12 wines (an auction item donated by BMS Re and won by Liam Kane from ELBA).

CEO of the East London Business Alliance, Liane Kane said:

 …what was an outstanding fund raising evening. Everybody at Hackney Schools Mentoring Programme and at East London Business Alliance, was blown away by your success. It was the best quiz night I have ever attended and many people agreed with me on the night.

Well organised, professional and I still don’t know how you got 150 people to turn out on a wet Wednesday night. Many thanks to you and BMS from all of us at HSMP and my only question is – can we do it again?!”

A big thank you to all who contributed in making this such a successful night either by attending; buying raffle tickets or bidding on the auction items. In particular, thanks goes to Andy Jarrett (Quizmaster); Paul Clephane (who worked tirelessly collecting and scoring the answer sheets) and Deryl Walsh of HSMP (who did a brilliant job as an auctioneer).

To see all the items that were auctioned, click here.

Click here to learn more about the Hackney Schools Mentoring Programme

EXCLUSIVE ILW REPORT: Vitality from volatility?

BMS’ Stefano Nicolini featured in the Intelligent Insurer exclusive ILW report.

Click here to read the full report.

To read more about BMS’ ILW offering click here

Hot Topics of the PLUS Symposium

Nikole Maus, Assistant VP BMS Specialty Casualty Team, discusses the themes that dominated the PLUS Medical Professional Liability Symposium 2012:

The resounding theme at the 2012 PLUS Medical Professional Liability Symposium was that change is coming and how do we prepare for it? The conference kicked off with rather a ‘doomsday’ forecast by Cyber Security Expert, Juval Aviv (former Israeli Secret Service and a leading authority on terrorist networks, and their inner workings). He surely incited many attendees to create their disaster plans on their flights home! However, more seriously, whether it is through ACO’s, Technology, Changing Regulation/Litigation, Claim Trends or ERM, there are changes set in motion that even a strike down of the PPACA will not prevent.

It is critical for all of us in the Healthcare space to closely watch the changing demographics of Healthcare Providers and the impact (and exposure) the new technologies of the age will have on this business. The panelists gave many examples of how these changes will drive the frequency, severity and types of MPL claims brought forth in the coming years. Furthermore, the insertion of ACO’s and the coming together of Hospitals and Physician Groups may gray the lines of the insurance and reinsurance coverages currently in place.  The reinsurance industry needs to ensure we are responsive to the integrated healthcare system – at all spectrums.

Fundamentally, as an industry, we must be ahead of the curve to ensure our clients have the coverages in place to help navigate them through the changes to come.

BMS launches global construction initiative

BMS announced the launch of its global construction initiative, responding to the needs of its clients around the world.

Gavin Madell, previously Director of Price Forbes’ Power and Construction business, joins the BMS Wholesale, Risk Solutions Team to lead the new initiative.

Click here to view the BMS Wholesale, Risk Solution Team Home Page

Media Links to this story:

Business Insurance Feature, click here to access the Business Insurance website

Inside Fac Feature, click here to access the Inside Fac website

Insurance Day Feature, click here to access the Insurance Day website

Global Reinsurance Feature, click here to access the Global Reinsurance website

Insurance Journal Feature, click here to access the Insurance Journal website

Analytics Feature – Asset classes & the MPL insurer

Mike Larson, BMS EVP and Head of Actuarial Services featured the Physician Insurer Magazine discussing the role of various asset classes in the portfolio of an MPL insurer.

Click here to read the full article

Reprinted from the first Quarter 2012 issue of Physician Insurer Magazine, Physician Insurers Association of America. Copyright, 2012.

ILW buyers becoming sellers

Stefano Nicolini, SVP,  featured in a news piece in Intelligent Insurer Magazine commenting on how reinsurers who previously bought Industry Loss Warranties (ILWs) appear to now be turning into sellers as a response to the current market.

To read the Full article please click here

Press Coverage – New York Office

News of the BMS Manhattan office opening was widely covered in the press – acknowledging its significance in the continued growth of the BMS offering in the US.

Here is a selection of stories covering the opening:

Business InsuranceBroker BMS Group opens New York office

Global ReinsuranceBMS opens New York office

Reactions: BMS New York Office plans

Insurance insiderBMS targets US growth with New York office and CEO relocation

Insurance day BMS CEO’s New York move signals strategic focus on US growth

Post OnlineBMS opens in New York

Insurance JournalU.K.-based Broker BMS Group Opens New York Office