Willis Re, a specialist international reinsurance broker, today announced that it has signed a definitive agreement to acquire the US Reinsurance division of BMS Group (BMS Re, US), including BMS Intermediaries Inc. and BMS Capital Advisory LLC, as well as the associated US reinsurance broking team based in London.
BMS Re, US is a leading independent reinsurance platform in the US, offering bespoke reinsurance and capital solutions with local market expertise, and a strong client base across regional and superregional carriers, and MGA and programs. Focused on property and casualty, BMS Re, US has deep expertise in complex lines including property catastrophe, medical malpractice and workers’ compensation.
The acquisition provides a strong platform to accelerate Willis Re’s geographic growth, enhance its existing capabilities and diversify into new lines of business. By establishing an operational presence in the US, the transaction substantially expands Willis Re’s international footprint and positions the business to participate in the world’s largest insurance market.
Commenting on the announcement, Lucy Clarke, Board Member of Willis Re, said: “This is a transformational acquisition for Willis Re and one that strongly supports our global growth strategy and greatly accelerates our expansion into the US. BMS Re, US has built an excellent reputation as one of the largest independent specialist reinsurance platforms in the region, underpinned by deep expertise across complex risk classes and long-standing relationships with a diverse client base. Combined with Willis Re’s existing specialty expertise and international platform, we are extremely well positioned to deliver exceptional outcomes for clients and pursue attractive long-term growth opportunities.”
BMS Re, US is underpinned by four core capabilities: a market-leading MGA and programs franchise; tailored treaty reinsurance solutions for regional and mutual insurers; a multifaceted capital advisory offering; and extensive specialty reinsurance expertise, including a dedicated casualty facultative team that deliver bespoke reinsurance solutions to clients.
The transaction is subject to regulatory approval and other closing conditions.
