Assure Holding Corporation Announces Completion of Senior Notes Offering

Vienna, VA – Assure Holding Corporation (“AHC”) today announced the successful completion of a private placement of senior notes with institutional investors. The Company intends to use the net proceeds from the offering to finance future growth. AHC, via its property and casualty insurance subsidiary, Americas Insurance Company, its reinsurance intermediary, Assure Re Intermediaries, and its managing general agency, Assure Underwriting Agency, cultivates relationships with program administrators targeting a particular niche insurance market, class or distribution model.

R. Ray Pate, Jr., President and Chief Executive Officer of AHC, commented: “The successful closing of this capital transaction provides institutional validation of our operational strategy and vision for the company; AHC’s operating entities have seen tremendous growth over the past three years, and the additional capital will provide our operating subsidiaries with financial flexibility to support our steady, future growth.”

BMS Capital Advisory acted as AHC’s financial advisor and agent for the placement of the senior notes.

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 the Notes, 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.

About Assure Holding Corporation 

Assure Holding Corporation (“AHC”) is an insurance holding company that owns a 100% interest in Americas Insurance Company, which is a property and casualty insurance company with licenses in 26 states, and operates as an issuing carrier for personal lines business produced by program administrators. AHC also owns a 100% interest in Assure Re Intermediaries, which specializes in the placement of reinsurance for commercial and personal lines business produced by program administrators. AHC owns a 100% interest in Assure Underwriting Agency, which is a program administrator that manages a book of Louisiana homeowners business.

About BMS Capital Advisory, Inc 

BMS Capital Advisory, a member of the group of companies owned by Minova Insurance Holdings, is a full-service broker-dealer created to expand the group’s operational flexibility and bring alternative capital product offerings to current and prospective customers. Headquartered in New York City, with offices in Philadelphia and Minneapolis, BMS Capital Advisory advises insurance underwriters and distributors, private equity funds, and other institutional investors in the execution of select corporate finance engagements, such as mergers & acquisitions mandates and capital raise engagements, and insurance linked securities offerings.

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

BMS Wins ‘Reinsurance Broker of the Year 2014’ Award

BMS has been named as ‘Reinsurance Broker of the Year 2014’, by leading industry publication Insurance Day. The accolade was collected by Jonathan Morris, BMS Group Director of Reinsurance, at the annual awards ceremony held at the Lancaster Hotel in London on December 4th 2014.

The judging panel recognised a number of factors that made BMS’ nomination for Reinsurance Broker of the Year 2014 the stand-out entry. These included:

  • The launch of new integrated systems within the BMS’ award winning analytics software iVision
  • Continued investment in the reinsurance sector
  • The inauguration of broker-dealer affiliate BMS Capital Advisory

Group activity in 2014 has positioned BMS to provide a fully integrated broking and broker-dealer service to clients, while simultaneously remaining true to its entrepreneurial roots and maintaining the flexibility and personability of an independent broking organisation.

Nick Cook, CEO of BMS Group, commented: “Around the globe, BMS prides itself on understanding our clients’ needs and using our full operational capability to achieve the highest quality results. Our dedicated, specialist teams, who take time to understand the details of a client’s business, are the key driving force behind our position as a top broker in the London market. I’m thrilled to see their collective efforts recognised by being chosen as the reinsurance broker of the year 2014.”

Andrew Bustillo, CEO of BMS Intermediaries, added: “From broking and advisory services to analytics, claims handling, capital advisory and beyond, BMS stands out for being consistently insightful, entrepreneurial and ambitious in its approach. The ongoing development of our easy to use analytical software and the creation of BMS Capital Advisory illustrates our dedication to adding value for our clients.”

BMS Group launches Specialty Reinsurance Division with appointment of Andrew Hitchings as Managing Director

BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces the launch of its Specialty reinsurance division with the appointment of Andrew Hitchings as Managing Director.

Andrew Hitchings joins as Managing Director of BMS’ Specialty reinsurance division with immediate effect, reporting to Nick Cook, CEO.

The new division will initially focus on the addition of new product lines to BMS’ existing Property and Casualty offering, in both reinsurance and retrocession.

Andrew, who joins BMS from Cooper Gay & Co Ltd (“Cooper Gay”), is an accomplished broker with extensive Specialty reinsurance experience. Joining Cooper Gay in 2003 he became Managing Director of the company’s Reinsurance Division in 2007, later assuming responsibility for all classes of reinsurance worldwide as CEO. In this role, Andrew assisted in the creation and development of a global treaty portfolio.

Nick Cook, BMS Group CEO, said: “We see enormous potential in our Specialty reinsurance business. The continued consolidation in the reinsurance market presents BMS with a unique opportunity of offering our clients an independent choice. Andrew will bring with him expertise and leadership in the Specialty reinsurance space. London is still the centre of excellence for Specialty reinsurance and Andrew’s appointment confirms our commitment to this growing sector.”

Andrew Hitchings added: “I am delighted to be joining BMS, whose prominence as an independent and innovative broker provides the perfect platform to create and grow a market leading Specialty reinsurance division.”

Andrew is a member of the London & International Insurance Brokers’ Association Reinsurance Committee.