BMS Associates, the specialist independent broking and underwriting group, has appointed Dane Douetil as its new Group Chief Executive Officer.
BMS Associates is the parent company of BMS Group Limited, its UK broking entity; of BMS Intermediaries Inc., its US broking arm; and of Pioneer Underwriting Limited, its underwriting platform.
Mr Douetil, who is expected to commence his role in early September, will lead the company in the second phase of its development strategy, which has seen BMS revenues grow by 27% since 2010 as it has taken advantage of global opportunities and established its fast-growing Pioneer Underwriting platform.
Mr Douetil, previously Chief Executive Officer of Brit Insurance Holdings NV, has more than 30 years of industry experience, covering broking and underwriting in insurance and reinsurance as well as in retail and wholesale environments. Prior to restructuring Benfield Re, which became Brit Insurance, Mr Douetil was a founding shareholder and director of specialist insurance broker Special Risk Services Limited, a business which was successfully transformed from a start-up to a highly profitable enterprise and sold to Minets (now AON).
Mr Douetil, who began his career at Willis, has deep roots in Lloyd’s and the London markets, having previously been Chairman of the Lloyd’s Market Association and of the London Market Reform Group. In 2007, Mr Douetil was made a Commander of the British Empire (CBE) in recognition of the reform work undertaken in the UK insurance market.
Christopher Hopton, Chairman of BMS Associates, said:
We are delighted to welcome Dane into his leadership role with us. He will build on the strong foundations already in place at BMS, leading the growth of our broking platform and the further development of Pioneer Underwriting. Dane’s experience as a leader in both broking and underwriting will be great assets for BMS. With his entrepreneurial track record of building successful businesses and his reputation, particularly in Lloyd’s and internationally, Dane’s appointment shows that we are determined to carry through our growth plans to success, and continue to deliver outstanding service to our clients.”
Mr Douetil said:
Leading a company of the calibre and scope of BMS is a very exciting prospect. BMS is an intriguing and compelling proposition with significant growth potential. It will be refreshing to return to my roots as a broker and combine this with my underwriting experience in a leadership role here at BMS. This is a rare opportunity in the market and one that is a great marriage of my experience and BMS’s strategy of developing both its broking and underwriting platforms.”
Mr Hopton added:
BMS is building an exciting market proposition and Dane’s track record of innovation in transforming businesses will be of enormous value.”
BMS also announced that Nick Cook has been confirmed as Chief Executive Officer of BMS Group Limited, its regulated UK broking entity, having successfully fulfilled the role on an interim basis since April this year. Mr Cook has been with BMS since 2010, and was previously Chief Executive Officer of Glencairn Group Limited. He is an executive director on the board of BMS Group Limited and BMS Associates Limited.
Commenting on the appointment of Nick Cook, Christopher Hopton said:
Nick has built-out the wholesale platform at BMS, posting encouraging growth and winning new business. He has increasingly taken on additional responsibilities, including our UK reinsurance strategy. With his experience in building successful businesses and his strong network in the markets, he is very well positioned to lead our UK broking activities.”
Mr Cook said:
I am proud to lead our broking business in the second phase of our strategic plan. I look forward to working closely with Dane in continuing to build our business and drive our international development. These are very exciting times for BMS and our clients.”
Nick Cook and Darren Doherty, Chief Executive Officer of Pioneer Underwriting, along with other members of the company’s Executive Committee, will report to Mr Douetil. The search for a CEO of BMS Intermediaries, its US broking arm, continues, and the successful candidate will also report to Mr Douetil.
Mr Douetil’s and Mr Cook’s appointments are subject to approval by the UK regulator, the Financial Conduct Authority.