London-based insurer BMS has set up its Asia broking operations in Singapore as it looks to strengthen its presence in Asia. The insurer also plans to embark on operations in Hong Kong and is waiting for regulatory approvals.
BMS Asia will currently eye on M&A insurance broking while bolstering the group’s potential in that class of business in places such as Australia, Canada and London. It is reported that Sandra Lee has been appointed as the CEO of BMS Asia. Furthermore, Martijn de Lange and Aris Wong will be the managing directors of the regional private equity, M&A and taxation (or PEMAT) operation.
Sandra Lee, CEO of BMS Asia, told the media, “The creation of BMS Asia is a really exciting development for insurance buyers in the region. As a leading independent broker, we can offer a genuine alternative to the world’s largest intermediaries and our independence gives us the freedom to be innovative and entrepreneurial and thus pursue the very best solutions for our clients. Growth in the Asian M&A insurance market is accelerating and we expect a robust increase in deal flow in 2021, with buyers looking for ways to protect their investments and sellers seeking the best solutions to reduce their liability post-closing.”
BMS is a renowned insurance company which specialises in services such as reinsurance, wholesale and direct insurance and has been in the market for 40 years. The insurer has delivered customised and comprehensive solutions in the field of direct insurance, re-insurance, capital advisory and wholesale.