Friday 1 October 2010

BMS, the specialist insurance group, announced today that it has recruited John Faustman to extend its capability to provide reinsurance solutions for regional US insurance companies.

Mr Faustman will spearhead the opening of a new BMS office in Philadelphia to support this business.  Cover provided out of the new BMS office will include Property & Casualty (Excess of Loss and Quota Share), plus Property Catastrophe, Casualty Clash, Workers Compensation, Umbrella/Excess Liability and Equipment Breakdown programs.

Carl Beardmore, CEO of BMS Associates Ltd, the group holding company, commented: “We have been very clear that we have some ambitious goals for the group and acquiring new teams is a core part of that strategy. We are looking to extend both the number of risk classes in which we are active, as well the reach of our business”.

“We are delighted that John will be joining us, his arrival is an important step in this process and brings us closer to achieving some of our objectives. His track record for excellent client service and strong business development capabilities make him a tremendous fit with BMS.”

John Faustman joins BMS following 19 years with Guy Carpenter as team leader and a Managing Director of the Philadelphia operation.  Prior to that, John had 19 years of primary experience (actuarial, underwriting and sales) principally in the Mutual insurance segment.

Commenting on his appointment John said: “I am excited to join a fast-paced group with a clear vision, strong growth prospects and a commitment to support brokers who want to deliver consistently excellent service and restore choice in the marketplace.”