Specialist re/insurance broker BMS has appointed Monica Tigleanu as divisional director, cyber strategy.
In the new role, Tigleanu is entrusted with future-proofing BMS’ cyber strategy by developing innovative products tailored to the evolving cyber risk landscape.
The firm states that she will leverage her global network to bring new capacity from various insurance hubs and spearhead the creation of distinctive facilities offering coverage currently unavailable in the market.
Tigleanu holds extensive knowledge of the cyber insurance market, having worked within the sector for more than a decade as both an underwriter and broker.
She joins BMS from Munich Re, where she served as a senior cyber underwriter. Before this, Tigleanu worked as a cyber property damage leader at Marsh.
She has also held senior positions at other global firms such as Beazley, AIG and Travelers and sits on Relay’s board of advisers.
Beginning her insurance career as a key contributor to financial lines underwriting, including cyber, directors and officers, and financial institutions errors and omissions and crime, Tigleanu has since focused on analysing a variety of cyber exposures across industry sectors and on providing bespoke risk management solutions.
Following regulatory approval, Tigleanu will be based in Bermuda and will report to Adam Mullan, executive chairman of BMS Re Bermuda, with a dotted line to Chris Madell, managing director of financial and professional lines at BMS.
Mullan commented, “Monica’s track record is nothing short of impressive. Her knowledge of the market combined with her innate ability to effectively help clients understand cyber risk will be a major asset to BMS.
“Her expertise complements our broader risk advisory capabilities, enabling us to continue helping our clients with their risk management goals.”
Madell added, “Cyber is a class that has a lot of capacity for product innovation. We are committed to staying at the forefront of this complex class and to raising awareness of the underlying risk while at the same time offering bespoke solutions to our clients.
“It is a pleasure to welcome Monica to the team, her vast amount of experience on both the underwriting and broking side make her well-placed to understand the challenges and opportunities present in the market.”