By: Newsroom - September 29th, 2016
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.”