BMS Re launches in Bermuda
BMS Re, the independent reinsurance broker, has launched a Bermuda operation with the appointment of Adam Mullan as executive director.
Mr Mullan’s appointment is subject to necessary visa and regulatory requirements being met, the company said.
BMS Re said its launch in Bermuda is the latest step in expanding its global footprint.
Having established a major hub in the United States under Pete Chandler, BMS Re also has operations in London and Europe headed by Hannah Watkins and Andrew Wheeler and more recently has expanded into the Latin American market led by Aidan Pope, the company said.
Mr Mullan will be responsible for building out BMS Re’s Bermuda operations and will be the driving force behind the initiative, the company said.
He 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.
BMS Re said he has held a number of senior roles, including as CEO of Alterra Global Reinsurance and Alterra at Lloyd’s Limited where he led a team of approximately 180 staff in the management and operations of Alterra’s Lloyd’s and global reinsurance business.
At Alterra, BMS Re said 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. Mr Mullan also led the team in setting up Alterra’s Zurich business in 2011.
Nick Cook, CEO of BMS, said: “BMS Re’s launch in Bermuda builds on the already strong presence we have on the island as a speciality 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.”
He added: “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. I’d like to welcome him to the team and look forward to working with him on this exciting new venture.”
Mr Mullan said: “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.”