BMS seeks to build out presence in legacy space

Specialist re/insurance broker BMS Group has appointed Mory Katz as a senior consultant to help expand its capital solution offerings and build out its market presence in the legacy space.

Prior to joining BMS, Katz was managing director at Pro Global Holdings since 2014, leading its US operations and business development. He was also the CEO of the company’s two US subsidiaries, ProTucket Insurance Company and Pro MGA Solutions. Between 1993 and 2014, Katz held senior positions at Equifax, Verisk, Direct Response Corporation and Trans Union.

Katz has over 35 years’ insurance experience specialising in capital advisory, run-off portfolio management, private equity funding and P&L management. In his new role, Katz will work closely with BMS’s reinsurance arm to deliver responsive tailored solutions to clients seeking relief from the capital and operational burdens associated with legacy business.

Pete Chandler, president of BMS’s US reinsurance operations, said: “Market conditions are changing rapidly and we see an increasing demand for alternative capital solutions among our client base. A strong legacy practice is therefore a key capability for us as a full-suite broker going forward and we are committed to offering our clients solutions to any and all of their capital needs.

"Mory’s expertise and reputation in solvent US run-off legislation will be a key asset to BMS and will be instrumental in driving our growth in the legacy space. We look forward to working closely with him to help our clients achieve their business goals.”