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Pete Chandler, president & CEO, BMS Re US
BMS Re has finalised its acquisition of US-based independent reinsurance broker and services company Trean Intermediaries.
The deal will build on the US footprint of BMS Re, which already has on the ground presence in Atlanta, Chicago, Dallas, Minneapolis, New York, Philadelphia, and San Francisco. Acquiring Trean will strengthen the BMS Re’s geographic presence in key US growth areas, with new offices in Tampa, Florida and in Greensboro, North Carolina.
Trean’s staff and infrastructure will transfer to BMS Re, and Sean Ryan, president of Trean, will assume the new role of deputy CEO at BMS Re, reporting to Pete Chandler who is president and CEO.
Founded in 2013 as a joint venture with Trean Corporation, Trean Intermediaries specialises in workers’ compensation, property and casualty, accident and health, personal auto, public entity, and professional liability lines for insurer and MGA clients.
Over the past two years under the leadership of Chandler, BMS Re’s US reinsurance business has seen its revenue rise by 55% coupled with a 36% increase in client count. The firm said was largely due to its “client-centric collaborative culture and sustained commitment to creative customized solutions to client problems”.
During this two-year period, BMS Re has also grown its broking team by 50% and its analytics unit by 77%. BMS Re continues to invest heavily into its technological and analytical capabilities, demonstrated by the launch of its Pathlight AnalyticsTM platform in April, which will help clients with examining, analysing and interpreting data for their specific capital and risk transfer goals and objectives.
BMS Re, Trean Intermediaries, Acquisition, Insurance, Reinsurance, Sean Ryan, Pete Chandler, North America