BMS Re gets new deputy CEO with acquisition in the US
Reinsurance broker BMS Re has strengthened its geographic presence in key US growth areas with the acquisition of an independent reinsurance brokerage and services company.
BMS Re has completed its acquisition of US-based Trean Intermediaries, expanding its existing US footprint with the addition of new offices in Tampa, Florida and in Greensboro, North Carolina.
BMS Re has acquired Trean in full, with staff and infrastructure transferring to BMS Re. Sean Ryan, president of Trean, will assume the newly created role of deputy CEO of BMS Re and report to Pete Chandler, president and CEO of BMS Re.
Founded in 2013 as a joint venture with Trean Corporation, Trean Intermediaries specialises in workers’ compensation, property and casualty, accident and health, personal auto, public entity, and professional liability lines for insurer and MGA clients.
The company stated that under Chandler's leadership its US reinsurance business has experienced significant growth over the past two years, seeing revenue rise by 55 percent, and its broking team growing by 50 percent and its analytics unit by 77 percent.
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