BMS Re, the independent reinsurance broker, today announces the formal completion of its acquisition of Trean Intermediaries, Inc. (“Trean”), a US-based independent reinsurance broker and services company.
With this acquisition, BMS Re has strengthened its geographic presence in key US growth areas, with new offices in Tampa, Florida and in Greensboro, North Carolina. This builds on BMS Re’s existing US footprint, with offices in Atlanta, Chicago, Dallas, Minneapolis, New York, Philadelphia, and San Francisco.
Under Pete Chandler, President and CEO of BMS Re, BMS’ US reinsurance business has experienced significant growth over the past two years, seeing revenue rise by 55% coupled with a 36% increase in client count, largely attributable to BMS Re’s client-centric collaborative culture and sustained commitment to creative customized solutions to client problems. With now over 185 employees, in just 24 months BMS Re has grown its broking team by 50% and its analytics unit by 77%. BMS Re continues to invest heavily into its technological and analytical capabilities, demonstrated by the launch of its Pathlight AnalyticsTM platform in April. This platform will harness BMS Re’s global expertise to better assist clients with examining, analysing and interpreting data as it pertains to their specific capital and risk transfer goals and objectives.
Founded in 2013 as a joint venture with Trean Corporation, Trean Intermediaries specialises in workers’ compensation, property and casualty, accident and health, personal auto, public entity, and professional liability lines for insurer and MGA clients. BMS Re has acquired Trean in full, with staff and infrastructure transferring to BMS Re. Sean Ryan, President of Trean, will assume the newly created role of Deputy CEO, BMS Re and reports to Pete Chandler.