BMS Faucets Former PartnerRe CEO Clarke as Chair, Completes Funding From Eurazeo

BMS Group, the London-based unbiased specialty re/insurance coverage dealer, introduced it has appointed reinsurance government, Emmanuel Clarke, as chairman, efficient Sept. 28, 2023.

Clarke succeeds John Hastings-Bass, who stays with BMS as chairman of its UK and Worldwide operations.

Previously president and CEO of PartnerRe, joins BMS with a confirmed report of efficiently main and rising the asset worth of world and culturally numerous groups by strengthening efficiency and innovation cultures, BMS mentioned.

BMS additionally introduced the formal completion of the French personal fairness agency Eurazeo’s funding within the group, first announced in December 2022, following receipt of regulatory approval.

“With the closure of this transaction, we transfer into 2024 on a wave of momentum with the capital required to additional drive our imaginative and prescient of changing into the unbiased specialty insurance coverage and reinsurance dealer of selection,” commented BMS Group CEO Nick Cook dinner.

“This vital funding not solely brings new capital and useful resource to BMS however to our shoppers and the market as an entire,” he added.

Because the transaction was introduced, BMS has continued its enlargement and is ready to shut out 2023 with forecast revenues of £300 million and development of 30% throughout its three pillars of Specialty, Reinsurance, and Worldwide.

Up to now yr, BMS additionally made an extra 10 acquisitions, constructing on the 8 offers made out of 2019 to 2022, whereas employees numbers elevated from roughly 400 to greater than 1,200 worldwide.

Having seen a compound annual development price of greater than 20% on natural enterprise over the past three years, BMS now operates in 16 strategically necessary nations, with 33 workplaces.

Hastings-Bass has chaired BMS for nearly 9 years and labored within the insurance coverage trade for greater than 35. “[H]is perception and experience has been elementary to the success the corporate enjoys at this time,” mentioned BMS in an announcement. “As the corporate pursues its world technique his continued involvement can be very important to the strengthening of its current operations in addition to its enlargement abroad.”

Cook dinner went on to welcome Clarke to BMS. “His profitable construct out of PartnerRe’s world reinsurance enterprise throughout his 25-year tenure alongside his expertise with progressive, information, digital and expertise pushed monetary fashions will instantly contribute to BMS,” he mentioned. “Equally, I’m delighted that John has agreed to stick with BMS. Beneath his chairmanship we have now seen astonishing development and I, together with all of BMS, thank him for his indispensable function in our success.”

“Specialty insurance coverage and reinsurance markets are lengthy standing funding themes for Eurazeo’s mid-large buyout technique. BMS’ entrepreneurial and meritocratic tradition and worldwide footprint align effectively with Eurazeo’s funding method,” in response to Maxime de Bentzmann, co-head mid-large buyout at Paris-based Eurazeo.

“Since signing, the enterprise has continued on its spectacular natural and inorganic development trajectory on which we’re dedicated to assist Nick Cook dinner and the administration crew,” de Bentzmann added. (Eurazeo has a diversified portfolio of €35.2 billion in property beneath administration, together with €25 billion from third events, with investments in round 600 firms.)

BMS’ current shareholders – British Columbia Funding Administration Corp. (BCI), Preservation Capital Companions (PCP), administration and employees – will stay vital buyers within the enterprise.

BMS had been suggested by Evercore, BMS Capital Advisory and Macfarlanes LLP.