BMS Re, the London-based independent reinsurance broker, announced the launch of BMS Re in Bermuda. Once necessary visa and regulatory requirements are met, Adam Mullan will be appointed as executive director.
BMS Re’s launch in Bermuda is the latest step in expanding its global footprint. Having established a major hub in the U.S. 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.
Mullan will be responsible for building out BMS Re’s Bermuda operations and will be the driving force behind the initiative.
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 Ltd. 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, 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.
“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,” commented Nick Cook, CEO of BMS. “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.”
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