BMS Group (“BMS”), the independent specialist (re)insurance broker, today announced the launch of a Private Equity, Mergers & Acquisitions (M&A) and Tax Insurance division, which will begin operating in the new year. Tan Pawar has been appointed Managing Director of the new team and will report to Ian Gormley, Managing Director of BMS Global Risks. Pawar will join BMS upon completion of contractual obligations.
Pawar’s appointment is the latest in a series of senior hires as BMS continues its expansion drive following the completion of substantial investment by British Columbia Investment Management Corporation (“BCI”) and Preservation Capital Partners (“PCP”).
Pawar most recently served as Senior Vice President at Paragon International Insurance Brokers Ltd, where he co-formed the M&A Insurance division in 2014. Prior to that, he was Divisional Director, International M&A & Transaction Services at Willis since 2011. A qualified corporate and M&A solicitor, Pawar has extensive experience in the space and will be tasked with developing BMS’s presence in the M&A insurance sector.
Gormley said: “BMS is growing at pace: we have the capital backing, global platform and broking talent to be the world’s leading independent insurance and reinsurance broker. We have identified a significant gap in the market to provide tailored products for corporate M&A transactions and will be expanding significantly in this space.”
Pawar added: “I am delighted to be joining BMS, a leading independent global broker backed by long term capital, at this exciting time in the Company’s development. There is significant need in the M&A insurance space for more bespoke and innovative solutions and BMS has the scale and firepower to deliver this to the M&A and Private Equity community.”