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Willis Re to acquire BMS Re’s US unit in signed deal
The acquisition covers BMS Intermediaries Inc., BMS Capital Advisory LLC, and BMS Re’s US reinsurance broking team, while excluding BMS’s UK, Latin America, Bermuda, and Global Facultative operations.
Willis Re, the reinsurance advisory and brokerage firm, has signed a definitive agreement to acquire BMS Group’s US Reinsurance division, known as BMS Re, US.
The transaction includes BMS Intermediaries Inc., BMS Capital Advisory LLC, and BMS Re’s associated US reinsurance broking team based in London. The materials also note that BMS Capital Advisory includes the BMS Re team that has worked on catastrophe bonds, reinsurance sidecars, and other insurance-linked securities placements.
Willis Re said the deal is expected to expand its reach within the ILS market, with BMS Re, US positioned around tailored reinsurance and capital solutions for regional and super-regional carriers, as well as MGAs and programs. The unit focuses primarily on property and casualty, while also covering complex lines such as property catastrophe, medical malpractice, and workers’ compensation.
According to the announcement, the agreement excludes BMS Group’s UK, Latin America, Bermuda, and Global Facultative business. BMS Group CEO Nick Cook called the deal an important step in the company’s evolution, and Willis Re’s board member Lucy Clarke described it as the start of a next chapter for the team.