Broker launches division focused on M&A, tax insurance and private equity

Independent specialist re/insurance broker BMS Group has launched a private equity, mergers & acquisitions (M&A) and tax insurance division, which will start operating in January 2020.

The managing director of the new team has been confirmed as Tan Pawar, who will report to Ian Gormley, managing director of BMS Global Risks. The broker said Pawar will join the firm when he has completed contractual obligations.

Pawar’s appointment is the latest in a series of senior hires as BMS continues to expand following the completion of substantial investment by British Columbia Investment Management Corporation (BCI) and Preservation Capital Partners (PCP).

Pawar most recently served as senior vice president at Paragon International Insurance Brokers. During his time at the firm he co-formed the M&A Insurance division in 2014, before that he was divisional director, International M&A & Transaction Services at Willis from 2011. He is also a qualified corporate and M&A solicitor, and has extensive experience in the space. He will be responsible for developing BMS’s presence in the M&A insurance sector.

Gormley said: “BMS is growing at pace: we have the capital backing, global platform and broking talent to be the world’s leading independent insurance and reinsurance broker. We have identified a significant gap in the market to provide tailored products for corporate M&A transactions and will be expanding significantly in this space.”

Pawar added: “I am delighted to be joining BMS, a leading independent global broker backed by long term capital, at this exciting time in the company’s development. There is significant need in the M&A insurance space for more bespoke and innovative solutions and BMS has the scale and firepower to deliver this to the M&A and private equity community.”