BMS Re goes big on expansion with latest move and Lloyd’s hire
Having established a major hub in the US, alongside operations in London and Europe as well as recent expansion into the Latin American market, fast-growing broker BMS Re is now gearing up to establish its operations in Bermuda, one of the world's most important insurance and reinsurance hubs.
BMS Re has hired Adam Mullan as executive director to build out its operations on the island and be the driving force behind the initiative. The company's launch in Bermuda is the latest step in expanding its global footprint.
Mullan joins BMS Re from his most recent role as a re/insurance consultant at Attestor Capital, working on non-executive consulting assignments for re/insurance acquisitions, business planning and strategy. He has held a number of senior roles, including as CEO of Alterra Global Reinsurance and Alterra at Lloyd’s where he led a team in the management and operations of Alterra’s Lloyd’s and global reinsurance business. At Alterra, he leveraged his extensive knowledge of property and casualty underwriting classes to expand the company’s geographic footprint, leading the acquisition team in targeting and acquiring its Lloyd's Managing Agency and establishing its Latin American operation across three countries. Mullan also led the team in setting up Alterra’s Zurich business in 2011.
Nick Cook (pictured), CEO of BMS, said: “ BMS Re’s launch in Bermuda builds on the already strong presence we have on the island as a specialty broker and BMS Re’s expanding global footprint demonstrates our commitment to the reinsurance broking business. We only expect this growth to accelerate as we continue to invest significantly into the business and into our actuarial and analytics capabilities through BMS Re’s Pathlight Analytics platform.”
“We are extremely pleased to have Adam leading our Bermuda operations, he has a distinguished career and is completely aligned with BMS Re's strategy and vision," he added. "I’d like to welcome him to the team and look forward to working with him on this exciting new venture.”
Mullan commented: “It’s a great honour to lead BMS Re’s operations in Bermuda. BMS has built a strong and talented global team with a terrific corporate culture. The group has the experience and capability required to effectively service the needs of their growing client base. I am delighted to join such a passionate and professional team and to aid in BMS Re’s continued and considered evolution."
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