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Willis Re to acquire BMS Re, US to expand in the United States
The deal, announced Aug. 18, adds BMS Re, US property and casualty expertise, including lines such as property catastrophe, medical malpractice, and workers’ compensation.
Willis Re said on Aug. 18 it will acquire BMS Re, US to establish an operational presence in the United States, with the transaction including BMS Intermediaries Inc. and BMS Capital Advisory LLC.
The acquisition is aimed at bringing over a reinsurance broking team based in London, according to the announcement, and Willis Re said it expects the move to support its global growth strategy and accelerate its US expansion.
BMS Re, US, part of BMS Group, focuses on property and casualty and offers reinsurance and capital solutions, with expertise in complex lines including property catastrophe, medical malpractice, and workers’ compensation, serving regional and superregional carriers as well as MGAs and programs.
Terms were not disclosed. BMS Group said the agreement excludes business in the UK, Latin America, Bermuda, and Global Facultative, and CEO Nick Cook called the transaction an important step in BMS’s evolution.