BMS Re supercharges global fac launch with top hires from rivals

BMS Re, the specialty reinsurance arm of the global broking group BMS, has bolstered its global facultative practice with senior property hires from rivals Guy Carpenter, Lockton Re and Gallagher Re.

Steve Housse (pictured left) joins BMS Re as managing director and facultative practice lead, and Dan Shea (pictured right) as senior vice president of property facultative. Both will be based in Atlanta, GA.

Housse, a prominent leader in the property facultative space, joins from Guy Carpenter where he led the US property practice. Housse will spearhead the expansion of the US property and energy offering.

Shea joins from Lockton Re - with expertise in the hybrid, facultative obligatory, and industrial sectors.

Additionally, James Elliott (pictured centre), previously managing director at Gallagher Re, will also be joining BMS Re as managing director and facultative practice lead and be based in the UK once his current contractual obligations are completed in March 2024.

As global leads, Elliott and Housse will work in partnership with the group’s business leaders to build a global facultative network.

Ian Gormley, UK CEO of BMS Group, said: “We are thrilled to welcome Steve, Dan and James to BMS Re. Their expertise and experience are invaluable and will be instrumental in providing creative solutions, better serving our clients. The global facultative practice initiative will revolutionize the way that we work with insurance and reinsurance clients alike across BMS and the global market. Our culture and lack of silos continue to attract talent to BMS and enables us to deliver innovative solutions across territories and specialisms at a time when our clients need it most.’

Pete Chandler, CEO of BMS Re, added: “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.

“BMS Re is an exciting place to be right now. We will continue to build out our facultative expertise across the US, UK, Bermuda and LatAm, and expand into other geographies. Our P&C facultative practice is evolving to work across territories delivering exactly what clients need to navigate the current market.”

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