Reinsurance broker BMS Group announced a series of management changes within its U.S. reinsurance team as the intermediary continues its expansion. This follows the completion in October of a large-scale investment into BMS by British Columbia Investment Management Corp. and Preservation Capital Partners.
The following appointments have been made:
Pete Chandler has been appointed as president and CEO of BMS Re US, effective on December 9 and reporting to BMS Group CEO Nick Cook. He will oversee the overall operations of BMS Re US and focus on its strategic development. Chandler joined the team as president in May this year from JLT Re and is based in San Francisco.
Andrew Bustillo, currently executive managing director of origination for BMS Re US, is also taking on the role of vice chairman, having previously held the CEO position. He will continue to drive production efforts and will be based in New York.
Steve Korducki, currently CEO of BMS Re US, will transition to the role of CFO, based in Minneapolis. He will have a role in managing the enlarged BMS reinsurance platform.
“BMS Re US is primed for growth. With the backing of BCI and PCP, we are ready to fulfill our role as the independent reinsurance alternative to the big three,” said Nick Cook, CEO of BMS Group.
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