BMS Group, an independent reinsurance intermediary, is rolling out a broker-dealer division that will help, in part, to facilitate mergers and acquisitions and buttress its reinsurance business.
Specifically, BMS Capital Advisory is the debuting broker-dealer, and it is part of a large corporate chain. It is an affiliate of BMS Intermediaries, the U.S.-based reinsurance arm of BMS Group, an independent, private specialist insurance broker that serves clients in North America, London, Sydney and Bermuda. BMS Group, in turn, is part of Minova Insurance Holdings, a U.K.-based holding company that also owns Pioneer Underwriters.
With that in mind, Minova announced the launch of BMS Capital Advisory, which will be run by CEO Rom Braga.
BMS Capital Advisory’s mission is to advise on and help facilitate insurance-linked securities offerings as well as mergers and acquisitions, Minova said. It is intended to complement the work of BMS Intermediaries. BMS Capital Advisory is a member of the Financial Industry Regulatory Authority and Securities Investor Protector Corp., Minova said.
In a statement, Braga said that “BMS Capital Advisory will increase the group’s operational flexibility as we seek to deliver the most effectively priced capital and integrated advice to our clients and prospects.”
Source: Minova Insurance Group