BMS Re, the reinsurance arm of broking group BMS, has announced the launch of its first official Bermuda office and the hiring of former Alterra executive Adam Mullan to lead the office.
The launch of BMS Re in Bermuda is the latest step in BMS’ expansion of its global reinsurance broking operation.
With a large US presence under Pete Chandler, BMS Re also has operations in London and Europe headed by Hannah Watkins and Andrew Wheeler and has more recently expanded into the Latin American market led by Aidan Pope.
BMS Re also recently acquired Trean Intermediaries, as it looks to expand its property catastrophe reinsurance footprint.
For its Bermuda presence, BMS has hired Adam Mullan, the former CEO of Alterra’s global reinsurance and Lloyd’s underwriting operations.
Mullan will be responsible for building out BMS Re’s Bermuda operations, becoming executive director once visa and regulatory requirements are met.
Most recently, Mullan worked as a consultant at Attestor Capital, working on non-executive consulting assignments for insurance and reinsurance acquisitions, business planning and strategy.
Previously he was the CEO of Alterra Global Reinsurance and Alterra at Lloyd’s Limited where he led a team of approximately 180 people in the management and operations of Alterra’s Lloyd’s and global reinsurance business.
Prior to Alterra, Mullan worked at ACE as Chief Underwriting Office for European markets.
Nick Cook, CEO of BMS, commented on the news, “BMS Re’s launch in Bermuda builds on the already strong presence we have on the island as a specialty broker and BMS Re’s expanding global footprint demonstrates our commitment to the reinsurance broking business. We only expect this growth to accelerate as we continue to invest significantly into the business and into our actuarial and analytics capabilities through BMS Re’s Pathlight Analytics™ platform.
“We are extremely pleased to have Adam leading our Bermuda operations, he has a distinguished career and is completely aligned with BMS Re’s strategy and vision. I’d like to welcome him to the team and look forward to working with him on this exciting new venture.”
Mullan also said, “It’s a great honour to lead BMS Re’s operations in Bermuda. BMS has built a strong and talented global team with a terrific corporate culture. The group has the experience and capability required to effectively service the needs of their growing client base. I am delighted to join such a passionate and professional team and to aid in BMS Re’s continued and considered evolution. “
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