BMS Re, the independent reinsurance broker, has completed its acquisition of Trean Intermediaries, a US-based independent reinsurance broker and services company working within the captive insurance industry.
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 insurers and managing general agent clients.
As part of the acquisition, Trean staff have been transferred to BMS Re. Sean Ryan, president of Trean, will assume the newly created role of deputy CEO of BMS Re and will report to Pete Chandler, president and CEO of BMS Re.
The acquisition is part of an initiative by BMS Re to strengthen 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.
BMS Re has also recently appointed Adam Mullan as executive director to launch the firm’s operations in Bermuda to further consolidate its global footprint.
In his new role, Mullan will assume responsibility for driving the expansion of the firm’s Bermuda operations.
