The independent specialist reinsurance broker BMS Group has announced the launch of its brokerage activities in Asia.
Headquartered in Singapore and with proposed operations in Hong Kong pending regulatory approval, BMS Asia will initially focus on M&A insurance brokerage.
It is hoped that this move will improve BMS’s existing classroom capabilities in London, Canada and Australia.
Sandra Lee will serve as CEO of BMS Asia and will be joined by Martijn de Lange and Aris Wong, who will be executives in the local Private Equity, M&A and Tax Action, and by Amy Fu, who is CEO in Singapore.
Nick Cook, CEO of BMS Group, said: ‘This is the latest phase in our strategy to provide our customers with a competitive and diverse, globally integrated offering by establishing scalable hubs in key insurance markets around the world.
‘The M&A insurance market in Asia is developing and growing fast, and we are delighted that Sandra and the team will be driving our initial offering in the region.
‘We will look at expanding M&A insurance to additional specialists, which will expand our existing areas of expertise to other sectors, including reinsurance, renewable energy, marine and capital markets. We hope that our ambition and entrepreneurial culture will continue to attract the best talent in the market. ”
Lee added: ‘The creation of BMS Asia is a very exciting development for buyers in the region.
“As a leading independent broker, we can offer a true alternative to the largest intermediaries in the world, and our independence gives us the freedom to be innovative and enterprising and therefore strive for the best solutions for our clients.
“Growth in the Asian M&A insurance market is accelerating and we expect a strong increase in transaction flow in 2021, with buyers looking for ways to protect their investments, and sellers looking for the best solutions to reduce their liability after closing. ”