Independent specialist (re)insurance broker BMS Group has announced the launch of its Asia broking operations headquartered in Singapore with proposed operations in Hong Kong pending regulatory approval.
BMS Asia will initially focus on M&A insurance broking which will enhance the firm’s existing capabilities in that class of business in London, Canada and Australia.
Sandra Lee will serve as CEO of BMS Asia and is joined by Martijn de Lange and Aris Wong, who will hold the position of managing directors in the regional Private Equity, M&A and Taxation operation. Additionally, Amy Fu will serve as executive director in Singapore.
Nick Cook, CEO of BMS Group said: “This is the latest stage in our strategy to provide our clients with a competitive and diverse, globally integrated offering by establishing scalable hubs in the key insurance markets around the world. The M&A insurance market in Asia is evolving and maturing at pace, and we are delighted that Sandra and the team will be driving our initial offering in the region.
“We will look to expand out from M&A insurance into additional specialisms, extending our existing areas of expertise into other sectors, potentially including reinsurance, renewable energy, marine, and capital markets. We hope our ambition and entrepreneurial culture will continue to attract the very best talent in the market.”
Lee added: “The creation of BMS Asia is a really exciting development for insurance buyers in the region. As a leading independent broker, we can offer a genuine alternative to the world’s largest intermediaries and our independence gives us the freedom to be innovative and entrepreneurial and thus pursue the very best solutions for our clients.
“Growth in the Asian M&A insurance market is accelerating and we expect a robust increase in deal flow in 2021, with buyers looking for ways to protect their investments and sellers seeking the best solutions to reduce their liability post closing.”