BMS Group Ltd, the London-based re/insurance broker, this week announced a strategic partnership in India with Berns Brett India as well as the launch of BMS (DIFC) Ltd., in Dubai, with immediate effect.
BMS has acquired a minority stake in Berns Brett India, “which, it is intended, will increase over time,” a BMS representative explained.
The company will be rebranded BMS (India) Ltd., according to the BMS announcement on December 17. Financial details of the deal, which is subject to regulatory approval, were not disclosed.
“BMS’ regional investments from Turkey to India show the focus we are giving to these exciting areas of growth and our belief in their importance to the group’s diversification and geographical strength,” commented Nick Gillett, CEO of BMS International, in a statement.
“We believe India to be an economic powerhouse and plays directly to our specialty strengths contributing through strong local connections to our global skill sets,” he added.
BMS (DIFC) Ltd.
In a second announcement, issued on December 16, BMS said, it had launched BMS (DIFC) Ltd., with immediate effect, after receiving the necessary license and regulatory approval.
Operating via the Dubai International Financial Centre, BMS said, this business move secures another foundation stone of the group’s regional strategy stretching from Turkey throughout the Middle East and North Africa.
BMS first entered the Dubai market in 2023 when it acquired a majority share in Berns Brett Masaood in 2023, which was renamed BMS Masaood.
Ranji Sinha has been named senior executive officer (SEO) for BMS (DIFC) Ltd., responsible for all business emanating from across the MENA regions, plus Turkey and for all territories and classes underwritten in the DIFC.
Lavanya Mamidanna remains managing director of BMS Masaood, UAE, responsible for all direct business in the UAE.
Both Sinha and Mamidanna report to Vedanta Baruah, CEO BMS Middle East & North Africa and thence into London.
“BMS continues to commit to the region, and we are now fully equipped to serve our clients in both direct and reinsurance arenas and to draw on the highly professional technical skills located in BMS Group’s global offices,” commented Baruah.
Topics New Markets India
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