BMS Capital Advisory, Inc. the broker-dealer and capital markets facilitating arm of the BMS insurance and reinsurance brokerage group, has appointed Andrew Bustillo, President & CEO of BMS Intermediaries, as Principal.
Bustillo is already serving as the Chairman of the board of directors of BMS Capital Advisory, Inc. In the new role of Principal Bustillo will leverage his extensive network among (re)insurance underwriters, risk distributors and capital providers to originate and execute opportunities in the marketplace.
BMS Capital Advisory, alongside BMS Intermediaries, offers its clients access to expertise and resources to enable them to access both the traditional reinsurance and capital markets or insurance-linked securities (ILS). BMS Capital Advisory was launched in 2014 as the broker sought to target the alternative reinsurance capital and ILS wave as a source of growth.
“We firmly believe in providing integrated solutions to our clients within a dynamic insurance marketplace,” commented Rom Braga, BMS Capital Advisory’s CEO. “Having an industry veteran like Andrew as a Principal of our firm increases our ability to deliver tangible industry experience on each and every mandate.”
Bustillo added; “At BMS, we have embraced the convergence of the (re)insurance and capital markets, and have an unwavering commitment of securing capacity required by our clients and prospects from the most cost-effective source. Operationally, we will continue to promote a disciplined and integrated strategy by breaking down internal silos, facilitating the flow of proprietary intellectual capital, and ultimately delivering the associated benefits and customized solutions to our customers.”
The continued focus of brokers on being able to offer capital source agnostic reinsurance and risk transfer solutions, including broker dealer capabilities and ILS structuring demonstrates the way the traditional and alternative markets have come together.
In order to be able to best serve the cedent, brokers need to be able to offer a full suite of services, both traditional and alternative, a trend which is only going to increase in importance as ILS capital continues to grow its share of the market.