BMS and Protecdiv partner to target strategic growth in reinsurance market
Specialist re/insurance broker BMS Group has formed a strategic partnership with US-based re/insurance broker Protecdiv to pursue growth initiatives by providing a joint proposition to clients in the US and internationally.
The partnership will focus on property, general liability, auto, workers compensation, cyber risk, mortgage and opportunities in emerging risks.
The companies believe that the partnership will enable them to leverage their strengths in the production, placement and servicing of ceded reinsurance and retrocession business, as well as capitalise on new growth opportunities in the property and casualty (P&C) market.
Pete Chandler, CEO of BMS’s US reinsurance arm, said: “Protecdiv is led by experienced reinsurance professionals who envision a unique and unprecedented venture while leveraging technology to deliver responsive solutions. It offers the insurance and reinsurance world a compelling opportunity to enhance diversity throughout the risk management procurement chain. We see great opportunities emerging from the partnership and we are delighted to support their efforts.”
Kael Coleman, founder and chief executive officer of Protecdiv, said: “Since we launched earlier this year our plans for growth have always involved key partnerships with leading brokers in the industry. Our relationship with BMS Group is a win-win for all stakeholders. It will allow Protecdiv to enhance client services in catastrophe modeling, actuarial, contracts, accounting, and claims, with both firms committed to the highest level of client engagement.”
“With technology at the heart of our business, it is important that we partner with companies that are progressive in their technology capabilities,” Coleman added. “This is our second partnership announcement in two months and is a great opportunity to demonstrate our expertise and value in the reinsurance market.”
