BMS appoints Dane Douetil as new Group Chief Executive Officer

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.

BMS – 2012 Best Places to Work in Insurance

BMS has been selected as one of the 2012 Best Places to Work in Insurance and Winner in the Reinsurance Broker category, in the 4th annual survey organized by US publication Business Insurance Magazine and Best Companies Group. The survey was open to all US team members.

BMS CEO, Carl Beardmore said:

I am incredibly proud of this achievement. This marks another strategic goal for BMS as we continue towards our stated vision of being the broker of choice and best place to work.

We will continue to grow BMS by optimising our people and attracting the best that the insurance market can offer – fostering an environment where people can thrive and develop their careers in a flexible, innovative environment. We view this award as a first step towards being seen as the place to work in the industry and look forward to the group winning many more in the future.”

BMS has made significant investments over the last 18 months in expanding its US platform with new offices in New York, Chicago, Philadelphia, Atlanta, Santa Monica and Minneapolis. It has increased its headcount in the US considerably, with more than 70 new team members joining in the last 18 months. Alongside best-in-class brokers, BMS’ focus has been on attracting industry-respected actuaries, catastrophe modelers, claims and contracts experts, to augment its client offering.

As an employee-owned company, BMS has the freedom to shape its proposition around its people and clients. The ethos is one where the staff manage the culture and environment, built around team member engagement and staff communities that feed into and work closely with the leadership team. Free from administrative disadvantages and red tape when implementing innovation or change, the operational infrastructure and expertise is in place to invest in progressive ideas and really maximize potential.

Monte Carlo Rendez-vous 2012 – BMS Press

BMS experts featured in a number of thought-leadership articles during Monte Carlo Rendez-vous 2012:

CEO, Carl Beardmore:

Global Reinsurance Daily Preview

Director – P&C, Simon Clutterbuck

Business Insurance:

Reinsurers embrace growing number of alternative funding methods

Casualty lines challenge reinsurers but offer long-term opportunities

Reinsurance costs not likely to increase at year-end renewals

SVP, Retro/ILW Team, Stefano Nicolini

Reactions: Surplus ILS capital used on ILWs

 

 

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

 

 

BMS opens New York office

Leading independent broker BMS today announces it has opened an office in New York City. The Park Avenue office will be the base of Group CEO, Carl Beardmore, who will now be spending the majority of his time in the United States. Larry Cantwell, Executive Vice President, will be the lead producer.

This development sees BMS further strengthen its position in North America where it continues to grow its reinsurance business. Over the past 18 months it has invested in a number of key personnel both in the UK and US, particularly in its modelling and analytics offering. BMS is also in the process of moving the servicing of all reinsurance accounts from London to Minneapolis.

Carl Beardmore commented:

Opening an office in Manhattan is vital to the continued expansion of our US platform to complement our strong London position and build a truly unified reinsurance platform. The new office will primarily be a production centre, led by industry veteran Larry Cantwell. However, it is also designed to be a hub for all our markets, and any staff or clients who want to use the facilities will be made very welcome.

For me, the most important thing is that we demonstrate our continued commitment to our clients. We have invested heavily in our US offering, both in our modelling and analytics capabilities, and we are in the process of moving the servicing of all reinsurance accounts from London to Minneapolis. Everything we do is for our clients’ benefit, and to make it easier for them to do business with us, which is why I’m moving to the US and why we’ve opened this impressive new office in New York”.