BMS Group inks new agreement with Chilean broker Insurex Re

Specialist re/insurance broker BMS Group has signed an agreement with Chilean reinsurance broker Insurex Re to target facultative and treaty reinsurance placements, spanning property cat, financial lines, surety and construction.

The preferred partner agreement will see BMS work with the wider Insurex group including its insurtech and retail divisions to distribute specialty products with a particular focus on financial services, surety, mining and property, and the public services sector.

David Battman, head of international at BMS, said: “BMS’s international strategy is based on establishing BMS hubs in key global financial centres, which in turn work closely with the best independent partners in their regions. Our Miami-based team will enhance its access to new opportunities in the Southern Cone through this new close partnership with Insurex Re.”

Eduardo Riquelme, CEO of Insurex Re, said: “We are very pleased to be taking our strong working relationship with BMS to a new level. Having the backing of a leading international broker such as BMS will allow Insurex Group to grow through Insurex Re across all lines of reinsurance in Chile, while BMS will benefit from our local expertise and presence.”

Jose Astorqui, CEO of BMS Latin America, added: “There are already strong synergies between BMS and Insurex Re, which we will build on. We have a dynamic, long-term strategy that positions both groups to benefit as Chile and neighbouring economies return to growth after current difficulties. Signing this Agreement in these trying times is a real statement of intent.”