Specialist international reinsurance broker Willis Re has completed its previously announced acquisition of BMS Re US, the US reinsurance arm of independent broker BMS Group, for an undisclosed sum.
The acquisition aims to bolster Willis Re’s broking capabilities and secure a strong platform for its planned US growth, enhancing its existing capabilities and diversifying into new lines of business.
The deal includes BMS Intermediaries Inc. and BMS Capital Advisory LLC, as well as the associated US reinsurance broking team based in London.
Through this acquisition, Willis Re expands its capabilities across property and casualty, including complex lines such as property catastrophe, medical malpractice, and workers’ compensation.
Lucy Clarke, Board Member of Willis Re, commented on the acquisition, “We are delighted to welcome the BMS Re US team to Willis Re.
“By bringing together our complementary strengths, we are creating a stronger platform for growth, with access to a broader global network, deeper market relationships and enhanced specialist expertise. This will support continued expansion, closer engagement and the delivery of greater value to our clients.”
As a reminder, in 2021, WTW sold its treaty reinsurance business to Gallagher Re, although the company announced plans to return to the market via a joint venture with Bain Capital in late 2024.
