Professional indemnity insurance provider BMS Associates names new CEO

Professional indemnity insurance provider BMS Associates Ltd., insurance and re-insurance broker BMS Group Ltd.’s UK-based holding company, announced its new chief executive officer this past Friday.

Joining the professional liability insurance provider will be Carl Beardmore, who steps into the shoes left vacant by John Spencer’s resignation back in January of 2008.  Mr Beardmore announced in a statement accompanying his appointment that not only is BMS currently seeking to recruit in regards to new brokerage team members, the firm is planning to double its brokerage market share by 2015.

In a statement describing Mr Beardmore’s credentials, the employers liability specialist firm has had heavy involvement with BMS for nearly a decade, both as a non-executive director and as a consultant.  BMS also commented that Mr Beardmore will be based out of their London offices.

Mr Beardmore further commented on his plans for the firm’s development, stating that growth will occur organically through acquisitions designed to implement an increase of the depth and breadth of BMS’ capabilities in regards to production.  Mr Beardmore also said that BMS will introduce an underwriting platform to the market in addition to expanding the capabilities of BMS’s MGA.

Mr Beardmore concluded his statement by stressing the fact that in addition to its aforementioned plans, BMS Associates is currently searching for brokerage teams who have the ability to focus on new clients or new risk classes in different geographical localities, and that there are several teams that are in discussions with the firm in regards to coming aboard to help manage and grow the holding company’s market share.

While Mr. Beardmore has been cleared by BMS Associates’ own internal governing body in regards to his appointment,  he will be unable to accept his new role as the holding company’s chief executive officer until the Financial Services Authority approves his appointment.

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