BMS Re enters Brazil with Guy Carpenter talent; reveals expansion plans

Specialist reinsurance broker  BMS Re has expanded its presence in Latin America with the launch of its new operations in Brazil, which will be led by two former executives of Guy Carpenter. The company has plotted a hiring plan that it says will be progressively rolled out this year and into 2022.

BMS Brasil Corretora de Resseguros (BMS Re Brazil), headquartered in Sao Paulo, will be led by José Leão (pictured) as chief executive officer (CEO), and Judi Newsam as president. The duo will report to Aidan Pope, CEO and executive chairman of BMS in Latin America & the Caribbean, in Miami.

The new operations will focus on facultative and treaty reinsurance services, supported by the group’s hubs in Miami, London and elsewhere.

Leão has worked in the reinsurance industry for over a decade and joins BMS Re from his most recent role as a vice president at Guy Carpenter Brazil. Prior to that, he worked as an underwriter at IRB Re. He specialises in supporting local market development through the use of his global expertise and technical capabilities.

Newsam has extensive experience in the Latin American reinsurance market, having previously been a managing director and country head for Guy Carpenter’s Brazil operation, where she led the day-to-day running of the firm’s two offices in Rio de Janeiro and Sao Paulo. Before that, she worked for Benfield in Brazil as an office head. She began her career working in the London market.

Nick Cook, CEO of BMS, said: “Establishing BMS Re in Brazil is a great step forward for BMS and for BMS Re.  It is a key element of our growth strategy for Latin America and the Caribbean, aligning perfectly with BMS’ hub and spoke model for international growth.”

“Our initiative has already been met with a favourable response from Brazilian carriers, who are keen to see a strong independent alternative to the current players,” he added. “I have every confidence that our new team in Brazil, supported by colleagues in Miami and London, will continue going from strength to strength. We have a hiring plan that will be progressively rolled out this year and into 2022.”

Leão commented: “Judi and I are delighted to be the ones to break new ground for BMS Re in one of Latin America’s largest insurance and reinsurance markets. BMS Re has an outstanding reputation for its analytical and actuarial capabilities and we are excited to bring these vital skills to the Brazilian market. We intend to introduce the qualities that have made BMS Re one of the world’s fastest growing reinsurance brokers, a mix of agility, technical skills and excellent cultural values, to the benefit of our clients in Brazil.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.