BMS Re has fully acquired independent reinsurance broker Trean Intermediaries, with all staff and infrastructure transferring over to the insurance and reinsurance broker.
Trean specialises in the design and implementation of reinsurance programmes for alternative risk programmes, captive insurers, risk retention groups and managing general agents.
The acquisition will consolidate BMS Re’s prominent position in the property catastrophe reinsurance market, as well as its geographical presence in Florida, North Carolina, California and Massachusetts.
Sean Ryan, president of Trean, will serve in the newly-created role of deputy CEO of BMS Re, reporting to president and CEO Pete Chandler.
JJ Johnson, managing partner at Trean, will hold the position of chief production officer at BMS Re.
Ryan and Johnson will also be joined in the senior executive team at BMS Re by senior partners Mark Rex and Jeff Sorrels, specialising in property and casualty reinsurance and catastrophe modelling respectively.
Nick Cook, group CEO of BMS, comments: “This acquisition underlines our strong commitment to the growth of our reinsurance business as well as the scale and diversity of our offering. Our two businesses have a strong cultural alignment, with the team at Trean placing the same value in independence, entrepreneurial spirit and client-focused operational practices that we do here at BMS.”
Chandler added: “The acquisition of Trean represents an exciting and significant addition to the BMS Group. With this move, we are further strengthening our grip as a top-tier reinsurance broking business able to compete at the highest levels.”
