BMS Re, the specialty reinsurance arm of the global broking group BMS, has appointed Steve Housse as the managing director and leader of the facultative practice, and Dan Shea as the senior vice president of property facultative.
Housse and Shea will be located in Atlanta, Georgia. Housse brings with him extensive expertise in the property facultative sector, having previously led the US property practice at Guy Carpenter.
Housse will play a pivotal role in expanding BMS Re’s offerings in the US property and energy segments.
Meanwhile, Shea joins from Lockton Re, specialising in hybrid, facultative obligatory, and industrial sectors.
Additionally, James Elliott, former Managing Director at Gallagher Re, will join BMS Re as the Managing Director and Facultative Practice Lead.
Elliott, currently fulfilling contractual obligations, is expected to be based in the UK once his commitments are completed in March 2024.
Together, Elliott and Housse will serve as global leads, collaborating with BMS Group’s business leaders to establish a comprehensive facultative network.
Ian Gormley, the UK CEO of BMS Group, expressed his enthusiasm for the new additions, highlighting their expertise and experience as crucial assets for providing innovative solutions and improved client service.
Gormley emphasised that the global facultative practice initiative would revolutionise the company’s approach to insurance and reinsurance clients, both within BMS and across the global market. The company’s culture, characterised by collaboration and the absence of silos, continues to attract top talent and enables BMS to deliver cutting-edge solutions across various territories and specialties, particularly when clients need them the most.
“We are delighted to be entering this new phase of growth for facultative reinsurance at BMS Re. It is a testament to the great work Rich Macrane, Larry Broadnax and our entire facultative team have accomplished, and the business that they have built, which enables us to attract talented individuals such as Steve, Dan and James to help us take our offering to another level,” Pete Chandler, CEO of BMS Re, added.
Chandler further emphasised the exciting prospects within BMS Re, stating that the company would continue to expand its facultative expertise across the United States, the United Kingdom, Bermuda, and Latin America, while also exploring new geographies.
By evolving its property and casualty facultative practice to operate across multiple territories, BMS Re aims to deliver tailored solutions that meet the precise needs of clients, particularly during the challenging current market conditions.
