BMS hires former Willis Re chair to expand in Latin American/Caribbean

Broker BMS Group has recruited a former senior executive at Willis Re to help it expand its business in Latin America and the Caribbean.

Manuel Almenara joins as non-executive director of BMS Latin American & Caribbean. He will work closely with Aidan Pope and Jose Astorqui, executive chairman and CEO of BMS Latin American & the Caribbean, respectively.

Almenara has more than three decades of global reinsurance experience and was chairman of Willis Re - Latin America & Caribbean, founded in 1995, which he oversaw for 21 years until his retirement in December 2015. Since then, he has been chairman of Peruvian Insurtech start-up Hello ZUM. Prior to Willis Re, he worked at Guy Carpenter in New York.

Almenara said: “The Latin American market has increased in size and sophistication, with targeted and tailored reinsurance cover becoming ever more vital to sustain the insurance needs of Latin American businesses. BMS, as a proudly independent broker with world-class analytical and actuarial capabilities, has the perfect opportunity to provide that much-needed service at a time when clients are calling for truly independent alternatives. I look forward to working with Aidan, Jose and the team to continue BMS’s build-out in the region.”

Nick Cook, CEO at BMS Group, said: “We are expanding our market presence globally, with Latin America & Caribbean being one of our key targets for growth. The team has made several significant hires in 2020, focussing on a number of specialty divisions and areas where we expect an increase in demand for coverage and for the services of a flexible, client-centric broker. Manuel is a well-regarded market expert in the reinsurance space and we are very pleased to welcome him to BMS.”

Astorqui said: “Despite the challenging macroeconomic circumstances, our business continues to grow in its key areas, and I am very pleased indeed that Manuel is joining BMS Latin America to assist in our further growth.”