Independent insurance and reinsurance broker BMS Group has launched a new European venture, BMS Iberia. The new venture will provide BMS with a long-term solution for accessing business in the EU post-Brexit.
BMS said the launch of BMS Iberia is consistent with its “global integrated hub-and-spoke strategy” and will complement its existing international operations, focusing at the outset on a core product offering of financial and professional lines, affinity and reinsurance. It will work closely with broking teams in London and Miami to place inbound reinsurance from Latin America and the Caribbean, plus reinsurance and retrocession from Madrid into London. It will also help expand the work of BMS’s global practice group for affinity.
The operation will be led by recently appointed directors Fernando Claro in Madrid and Domingo Albi in Seville, and will report to BMS managing director and head of international, David Battman.
Fernando Claro has 20 years’ experience in the Spanish insurance market, having held a succession of senior roles at Marsh Spain, most recently as head of financial and professional lines and M&A at Marsh Spain. Mr Albi joins BMS Iberia with nearly 20 years’ experience and is a recognised market leader in arranging insurance for sports associations and professional colleges, previously at Aon and Marsh.
Mr Battman said: “Our aim is to bring something new to the Spanish and Portuguese markets. We believe that our target client base – corporations, independent retail brokers, professional and sports associations, MGAs and insurers – is seeking a new type of broker that simultaneously offers real expertise, focusing on the customer through personal service and the use of technology.”