Insurance and reinsurance broking group BMS has announced another senior hire in the form of Pete Chandler, who will join the firm from JLT Re and become BMS’ new President, U.S. Reinsurance.
Chandler is just the latest senior figure to exit the JLT ranks after the acquisition by Marsh & McLennan.
He joins BMS at a time when the firm has been expanding and seeking to position itself as a leading independent in the reinsurance broking and risk capital advisory space.
Chandler will join as President of BMS’s U.S. reinsurance operations as of May 27th and will take a seat on the BMS U.S. Board, subject to approval by regulators.
He will report directly to Steve Korducki, Chief Executive Officer of US reinsurance for BMS.
BMS recently hit the £100 million of annual revenue marker and has achieved substantial global growth over the last year. Senior hires made recently will help the broker become increasingly competitive in the all-important U.S. reinsurance market, bringing them increasingly into contact with ILS funds and other collateralised players as well.
Chandler has two decades of U.S. reinsurance broking experience and joins BMS from his most recent role at JLT Re, where he was Deputy CEO of its U.S. reinsurance broking arm.
He had been with JLT Re since 2016, before which he worked as Marsh’s Managing Director for the Western Region. He has also held roles as North American COO for reinsurance broker Guy Carpenter and as an Executive Vice President at Benfield as well.
Nick Cook, CEO of BMS Group, commented on the appointment, “BMS’s independence and resolute commitment to the US reinsurance market continues to attract some of the industry’s leading talent. There is great opportunity for growth in our US operations as clients increasingly look for independence married to technical and analytical scale and expertise.
“Pete is one of the most experienced reinsurance brokers in the market and will be a huge asset to the BMS US team. I am pleased to announce his appointment today and look forward to working with him and Steve Korducki to grow our US reinsurance arm.”
Chandler also said, “There is a huge opportunity in the US for an independent broker of BMS’s ambition, analytical and actuarial capability and entrepreneurial culture. The investment BMS has made in talent, innovation and analytics has made it the most significant independent broker in the market and I’m delighted to join such a formidable team.”
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